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CoinEdition Could Flip $20K Level Into Support for Bitcoin This Month


© Stocksak. $20K Level Could be Turned Into Support for Bitcoin This Month
  • BTC’s price has risen more than 4% over the last 24 hours.
  • The $20k level could be converted into support for Bitcoin at the end of each month.
  • The global crypto market cap has increased by 4.92%, according to related news.

According to CoinMarketCap, the price of the crypto market leader (BTC) has risen by 4.36% in the past 24 hours. This has pushed the price of BTC above the $20,000 threshold. BTC is currently trading at $20.188.54. Furthermore, BTC’s price movement is in the green over the last 7 days as well.

BTC trading volume also increased 194.06% over the past day, bringing the total daily volume at $79,749 216,832.

Monthly chart (Source: TradingView

Looking at the monthly chart for BTC/USD, BTC’s price needs to flip the green level at around $20k back into support to reclaim the green-red macro range, which is between $20k to $23.3k.

If BTC’s monthly close can close above the green level this month then it would set BTC up for a recovery. If the monthly close is below this level, the price will likely become a resistance area again.

In related news, the global cryptocurrency market cap has risen by 4.92% over 24 hours to reach $978.20 billion. This is due to the double-digit price gains of several of the largest cryptos, according to market cap.

Prices for (ETH), (ADA), (DOGE), all rose by more than 10 percent. BTC’s latest price increase has seen the market cap for the crypto market leader climb to $387,467,700,923.

Disclaimer: These views and opinions, along with all information in this price analysis, have been published in good faith. Readers are responsible for their own research and due diligence. Readers take all actions at their own risk. Coin Edition and its affiliates are not liable for any loss or damage, direct or indirect.

Coin Edition’s first article, $20K Level Could be Flipped into Support for Bitcoin This Month, appeared first on Coin Edition

See original on CoinEdition

News Source and Credit

Stocksak Editorial

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