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Bitcoin Faces Resistance Near $64K; Support Between $55K-$60K

Bitcoin Faces Resistance Near $64K; Support Between $55K-$60K

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Bitcoin (BTC) continues to commerce in a good vary, though patrons look like holding assist above $60,000. Short-term indicators are impartial, though pullbacks could possibly be restricted given a collection of value breakouts over the previous month.

If patrons fail to carry $60,000, decrease assist across the 50-day transferring common, presently close to $55,000, may stabilize a pullback.

Bitcoin was buying and selling round $61,500 at press time and is roughly flat over the previous 24 hours.

For now, upside momentum is slowing, which suggests a interval of consolidation may persist within the short-term. Eventually, indicators counsel momentum may enhance to assist a breakout in BTC above $65,000 primarily based on optimistic historic returns within the fourth quarter.

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