next move of bitcoin

Next Move of Bitcoin

If we talk about the next move of Bitcoin according to the technical charts, it must close this week above $22,700 for continuing bullish momentum.  

However, traders enjoyed a week of gains that also helped them to forget the pain of the last two months.

The price of Bitcoin has been fluctuating around the Simple Moving Average of 200-week since from a couple of days, which is a reliable indicator to find bottoms of the bear markets.

According to various analysts to predict the next move of Bitcoin, here are some important levels to watch at the weekend.

A market analyst Rekt Capital also highlighted the importance of holding a 200-weekly Moving Average. If the weekly candle closes above the 200-Weekly Moving Average then we will have confirmation about the next move of Bitcoin.

If we look at the RSI indicator, it has been showing an accumulation zone of Bitcoin since May 2022.

The overall cryptocurrency market cap now stands at $1.048 trillion and Bitcoin’s dominance is 42%.

The views and opinions discussed here are just for information. Every trading and investment has some risks; you must conduct your own research when going into any trade.