“The key is in not spending time, but in investing it.” - Stephen R. Covey
🇨🇭 Join our Swissblock Telegram Group! Get daily updates, in-house content, and technical analysis on crypto & macroeconomics. Tap into a hub of knowledge and insights. Stay ahead with Swissblock. Sign up now! 🚀
The BTC price has topped the $44k mark for the first time since April 2022, seemingly driven by increasing progress between Wall Street titan BlackRock. All indicators are pointing to a bullish momentum that could be sustained.
The market appears poised to continue the rally, with potential targets at $45k, a psychologically significant figure, and $47.5k, identified as a major resistance barrier on weekly charts.
The 20-Day Exponential Moving Average (EMA) has provided support, and the 50-Day EMA is approaching the price action, indicating potential for continued value buying opportunities in the market. Anticipating rallies, especially as liquidity starts to decrease, buyers and sellers will influence market movement.
Buying on dips remains a popular strategy, and the market is anticipated to reach the $47.5k level sooner rather than later. Breaking above this level will require significant momentum, which may pose a challenge before the new year, but the expectation is that it will happen over time, given the momentum and the Federal Reserve's commitment to avoiding tightening measures.
Keep reading with a 7-day free trial
Subscribe to Swissblock Insights to keep reading this post and get 7 days of free access to the full post archives.