Bitcoin (BTC) price recorded a rather bold two days this past weekend in a surge that saw millions in positions liquidated.
Bitcoin price retracted to $63K range after a strong weekend, buyer momentum has flatlined on daily time frame. MicroStrategy now owns more BTC than any public company and country worldwide. Blackrock saysl wall of money is coming to BTC through ETF s from pensions, endowments, and sovereign wealth funds. Bitcoin price recorded a rather bold two days this past weekend in a surge that saw millions in positions liquidated.
Facing immediate resistance due to the 50-day Simple Moving Average at $65,930, BTC risks a correction, as markets tend not to wait for long. The outlook on the Relative Strength Index , which is winding along the mean level of 50, suggests that neither the bulls nor the bears are leading the market. The Awesome Oscillator is also still in negative territory, putting the market at risk of a bearish takeover. Investors looking to take new positions for BTC should wait for confirmation.
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