Bitcoin Thanksgiving Gift, Why BTC Heads For Fresh Rally

Bitcoin Thanksgiving Gift, Why BTC Heads For Fresh Rally


Bitcoin has been trading on the green side this Thanksgiving morning with a 4.1% profit in the 24-hour chart. Approaching a critical resistance level, BTC’s price stands at $59,042 and could see more appreciation in the short if it manages to flip $60,000 to support.

BTC trends to the upside in the 4-hour chart. Source: BTCUSD Tradingview

Bitcoin has been rangebound for the past week with low volatility for the most part as the price was rejected close to $60,000 on Monday. According to QCP Capital, an institutional investor is most likely responsible for the price action and suppression of any serious momentum on BTC’s price rally attempts.

Related Reading | TA: Bitcoin Breaking This Confluence Resistance Could Spark Recovery

Trending: WATCH: Republican Voter In Florida Congressional Race Was Told By Poll Worker That Republicans Could Not Vote

This institutional investor has been increasing

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend