Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Investing

The price of Bitcoin is on a bullish run above the EMA 200

by August 9, 2024
August 9, 2024
The price of Bitcoin is on a bullish run above the EMA 200

The price of Bitcoin is on a bullish run above the EMA 200

This morning, the Bitcoin price rose to the $62729 level, a new weekly high.

Bitcoin chart analysis

This morning, the Bitcoin price rose to the $62729 level, a new weekly high. On Wednesday, the price stabilized above the $55,000 level and continued its bullish consolidation. Yesterday, we saw the price return above the EMA 200 moving average and the $60000 level. We quickly stabilized at that level, after which we climbed to this morning’s high.

Bitcoin paused this morning at a new high and initiated a slight pullback to the $61,000 level. Here, we expect new support, from which we would again start with bullish consolidation. By moving above $61700, the price rises above the daily open price, and the chances of seeing further progress to the bullish side increase. Potential higher targets are the $63000 and $64000 levels. Last week’s high was at the $70016 level.

 

A significant bullish consolidation since Monday managed to bring price back above $6000

For a bearish option, Bitcoin’s price would have to first move back below $60000 and the EMA 200 moving average. After that, the next important level is $58,000, the weekly open price. By going below, we move to the negative side, and the bearish pressure for further withdrawal of the Bitcoin price increases considerably. After that, we can pay attention to the $56000 support level.

The price’s inability to sustain at that level will strengthen the bearish momentum, which will continue to bring down the price of Bitcoin. Potential lower targets are the $55,000 and $54,000 levels. The picture tells us that for now we can expect a recovery and a transition to a more specific bullish trend. If we manage to get our hands on the $70,000 level, who knows, maybe we’ll see the formation of a new all-time high.

 

The post The price of Bitcoin is on a bullish run above the EMA 200 appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
USDCHF and USDJPY: USDCHF slows this week’s gains
next post
She was told she wouldn’t live past her 8th birthday. Now, her life’s mission is to fight for patients with this deadly disease

You may also like

EURUSD and GBPUSD: The Euro managed to start...

September 2, 2024

Optimus Robot & Robotaxi: Tesla’s $60B Loss Recovery...

October 16, 2024

Ripple and Tron are under pressure looking for...

August 27, 2024

ApeCoin and Akita Inu: Targets and Levels for...

October 15, 2024

Elon Musk Tests X Ahead of Trump Livestream...

August 12, 2024

Oil and Natural Gas: Oil remains under pressure...

September 13, 2024

The dollar index begins to recover from morning’s...

August 28, 2024

ApeCoin and Akita Inu: ApeCoin slipped below the...

October 17, 2024

Bitcoin & Ethereum: Sharp Fall on Oct 31,...

November 1, 2024

The dollar index is in a good position...

October 14, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Government shutdown, Epstein files, DC crime: Congress returns to mountain of drama

      September 2, 2025
    • Top Senate Republican ready to go nuclear, ‘roll over’ Democrats with rule change to confirm Trump nominees

      September 2, 2025
    • Rhode Island’s ‘Taylor Swift Tax’ on vacation homes of the wealthy is spreading to other states

      September 2, 2025
    • Bernie Sanders calls for RFK Jr. to resign as HHS secretary over vaccine policies: ‘Rally the American people’

      September 1, 2025
    • Former FBI Director Robert Mueller has Parkinson’s disease: report

      September 1, 2025
    • Trump says he will require voter ID with executive order

      August 31, 2025

    Categories

    • Business (787)
    • Investing (661)
    • Politics (5,420)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 WhaleLargeCapital.com | All Rights Reserved