CandleFocus Is Bitcoin Poised for a Major Breakout Beyond $65K?
2024-09-20
Author: Content Editor
Bitcoin reached a 25-day high of $64,133, experiencing a 10.3% gain over the past week. This increase in price coincides with a broader rise in risk-driven assets following the Federal Reserve's interest rate cut. BlackRock also issued a white paper endorsing Bitcoin as a hedge against risks. However, the Lightning Network has seen a decline in capacity, nodes, and channels, suggesting reduced user activity. Bitcoin's resistance levels are at $64,521 and $64,928, with potential for a drop to $60,366 in a bearish reversal. Traders are closely monitoring the market for signs of continued strength or reversals.
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