Bitcoin Bounce at $60K but More Needed

ByteFolio Issue 214;

Bitcoin’s ByteTrend Score remains a 0. The price has bounced but has yet to pass above either moving average, both of which are falling.

Bitcoin

Source: Bloomberg

Support at $60k is a good thing because it is an important level with lots of history. This level marks the two peaks in 2021, and the consolidation in 2018 when the US ETFs were launched. There is a good chance it holds.

The Bitcoin $60,000 Level

Source: Bloomberg

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