In the latest Bitcoin news, we are reporting the noticeable tranquility in the price of Bitcoin and its idleness to move and surge to beyond $6,400. Currently, the most dominant cryptocurrency is trading at $6,465 and in the past 24 hours has demonstrated sluggish moves.
The volume of Bitcoin, on the other hand, has increased by about 20% from $3.1 billion to $3.5 billion and with that hinted a new rise in trading activity in the cryptocurrency exchange market across the major digital asset trading platforms.
The rise in the volume of Bitcoin, at this time, could lead to a potential short-term positive movement on the upside in the upcoming days. There are some technical indicators that confirm this, suggesting that Bitcoin is (slowly and quietly) building momentum to break out of the several minor resistance levels in the high $6,000 region.
According to one technical analyst known as Uzi:
“BTC looks ready to break out of the bull pennant on the 4H, price closed above the 50 & 20 day EMA today and MACD is bullish now, resistance is looking like 6417-6420 here, lets see if we can break it soon.”
Aside from Bitcoin, the small tokens were in the focus throughout the past week – mostly in the range of 5% and 10%. However, the major cryptocurrencies like Bitcoin, Ethereum, Ripple and Bitcoin Cash haven’t been able to show a strong momentum.
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