A brief moment above $52,000 – Bitcoin (BTC)
breaks through this level for a few minutes. Bulls won’t go any further, fervently defending $51,000 for now.
The daily price of Bitcoin (BTC) is brought to you in collaboration with Coin Trading and its algorithmic trading solution finally available to individuals. And by using the code JDC5, get a 5% discount on TDC services
A head above $52,000: bulls resist CFA pressure
Bitcoin makes a foray above $52,000 today, September 6, 2021, rising to $52,002 on Bitfinex. It is trading at $51,906 at the time of writing, currently recording a daily gain of 2.14%.
Bitcoin recorded a drop of around $700 in just over 2 hours on the day, bringing its price down from $51,958 to $51,238 before rebounding.
The drop comes after Charles Randell, chairman of the Financial conduct authority, announced that the UK’s financial watchdog will not license crypto companies that are unable to provide key information about the basis of their work, such as key business functions, in order to protect investors.
Key supports and (finally) golden cross for a 6-digit Bitcoin?
Bitcoin recorded a “strong weekly close” above $51,000 as noted by trader Rekt Capital. According to him, a move down to the $50,000 – $51,000 area would be a test of previous resistances and an attempt to turn them into supports.
Rekt Capital’s publication – Source: Twitter
Trader Michaël van de Poppe, meanwhile, defined $47,000 as “the last low” to be defended in order to “avoid any breakout.”
Video of Michaël van de Poppe – Source: YouTube
While the bulls are managing to defend $51,000 for the moment, are the markets showing bullish signals for the short, medium and long term? Omkar Godbole, a journalist at CoinDesk, predicts a golden cross in the proch
ains days, with the 50-day moving average – the short term – about to cross above the 200-day moving average – the long term. The last similar golden cross took place in May 2020. The event had seen Bitcoin rise from the $9,000s to over $60,000 in the 11 months since.
Bitcoin’s price continues to be pushed up by individuals embracing it, but also by more and more institutional investors opening their portfolios to it, such as this investment firm that decided to gain exposure to Bitcoin while it historically invests in gold.
Is it possible to be a winner every time?ning every time? Whether Bitcoin’s price is in great shape, or going through turbulence, Coin Trading offers you the opportunity to increase your chances of success. Indeed, Trading Du Coin gives individuals access to a 100% automated algorithmic trading tool. Real trend mechanism, this tool was designed to adapt to market reversals and position on the most dynamic crypto assets of the moment. Currently, take advantage of 5% discount on TDC offers by entering the code JDC5 when subscribing