Bitcoin Climbs Again Above $59K, however Rally May Be Brief-Lived

Bitcoin Climbs Again Above K, however Rally May Be Brief-Lived

Bitcoin rallied to over $59,000 early within the European morning, extending a restoration from under $54,000 firstly of the week. The rally may see BTC reclaim $60,000 however will likely be short-lived, Markus Thielen, founding father of 10x Analysis, mentioned. “The $55,000-$56,000 vary is forming a base from a technical evaluation perspective. Nonetheless, given the medium-term technical harm, we anticipate not more than a short-term tactical bullish countertrend rally,” Thielen wrote on Tuesday. On the time of writing, bitcoin was buying and selling at slightly below $58,500, a rise of 1.7% within the final 24 hours. The broader digital asset market, as measured by the CoinDesk 20 Index, rose about 1.65%.

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