CandleFocus Bitcoin Nears All-Time High as Investors Withdraw $2.73 Billion From Exchanges
2024-10-21
Author: Content Editor
The price of Bitcoin has surged close to $68,260 and is approaching the key psychological level of $70,000. Investors have shown optimism as Bitcoin moved off exchanges, indicating confidence in the cryptocurrency's upward trajectory. The Average Directional Index (ADX) is nearing a threshold of 25.0, which, if breached, would further support the bullish outlook for Bitcoin. If Bitcoin can hold above the current support level of $68,248, the next targets are $70,000 and $71,367. Breaking through the $71,367 resistance would signify a significant milestone and indicate continued market momentum. However, a drop below $68,248 could lead to a correction and potential bearish reversal.
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