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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 335784, member: 104606"] [B][SIZE=5]Bitcoin Price Exceeds Psychological Level of $50k[/SIZE][/B] [img]https://i.imgur.com/bd6vifW.jpeg[/img] The last time the BTC price was above $50,000 was in December 2021, making its way to the low around $15,500 reached in November 2022. Reaching the $50,000 level was facilitated by: → waiting for the halving, after which the price of Bitcoin is believed to receive a bullish impulse due to a reduction in supply; → the effect of the approval of a Bitcoin ETF; → expectation of easing of the Fed's monetary policy, which increases interest in risky assets. By the way, the Nasdaq-100 technology stock index set a historical high yesterday, breaking the level of 18,000 points. At the same time, the BTC/USD chart shows that: → the price of Bitcoin moves within an ascending channel (shown in blue), which dates back to last fall; → from the point of view of technical analysis, with this channel construction, the price of Bitcoin still has some room to rise to its upper limit. [img]https://i.imgur.com/MAbckgd.png[/img] [B][URL="https://fxopen.com/blog/en/oa-bitcoin-price-exceeds-psychological-level-of-50k/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve"]VIEW FULL ANALYSIS VISIT - FXOpen Blog...[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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