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Bitcoin Range-Bound Between $55K Support and $60K Resistance

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Bitcoin’s (BTC) value momentum is enhancing, which might restrict additional draw back between the $53,000-$55,000 help vary.

Buyers might want to make a decisive transfer above $60,000 resistance to yield an upside goal towards the all-time value excessive of almost $69,000.

For now, BTC is buying and selling in a good vary and has been roughly flat over the previous week. The relative energy index (RSI) on the day by day chart is rising from oversold ranges of final week, which usually precedes a value bounce.

Support stays intact given the upward-sloping, 100-day transferring common. This signifies a optimistic intermediate-term development, which might encourage further shopping for on pullbacks.

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