Bitcoin started tasting the $8000 level several weeks ago but dropped back to its previous support. Right now, the 23 November BTCUSD Technical Analysis shows Bitcoin Prices hovering near its all-time highs.
23 November, OctaFX –It was business as usual for bitcoin on Thursday, as the world’s most active cryptocurrency continued to trade near all-time highs. BTC/USD continued to trade north of the $8,000 level on Thursday, as prices continued to push forward following weeks of renewed upside. Prices were last seen trading at $8,185, according to Bitfinex, for a market cap of roughly $137 billion.
23 November BTCUSD Technical Analysis
Bitcoin surged through the stratosphere this week en route to new record highs as rising institutional demand and a failed Segwit2x fork kept demand elevated. The coin’s technical parameters show continued upside, with analysts growing increasingly bullish on bitcoin’s prospects. Analysts are now targeting $10,000 as the next major resistance test.
Bitcoin is in the midst of a two-week uptrend, as prices recovered from the failed Segwit2x hard fork. The failed implementation of the hard fork sent Bitcoin Cash (BCH) surging.
Meantime, the first listing of Bitcoin futures is anticipated on CME in mid-December. This will heighten confidence in cryptos – having the support of institutional investors has to be a luxury to a market which has never completely shaken the notion that it is a tool of the more dishonest enterprises out there in cyberspace.
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