Bitcoin price jumps to a new all-time high at $69210

• Yesterday, Bitcoin’s price reached a new all-time high of $69210. 

Bitcoin chart analysis

Yesterday, Bitcoin’s price reached a new all-time high of $69210. Finally, the previous high of $69,000 was broken. We stopped there, after which a strong bearish consolidation was initiated, and the price fell to $59313. A new weekly low has been formed, and Bitcoin is receiving new support.

We then climb above $62000 and get support from the EMA200 moving average. Bullish consolidation and growth above $65,000 soon followed. We didn’t stop there, and Bitcoin continued up to the $67550 level. We are currently in strong bullish momentum and could expect a new test of the zone around the $69,000 level. Potential higher targets are $69250 and $69500 levels.

Are we heading for a new Bitcoin high or are we heading for a pullback?

For a bearish option, we need a pullback of the Bitcoin price to the $66000 zone. A fall below that zone would confirm the formation of a lower high at $67550. This confirms that the price is losing momentum and that we are moving to the bearish side. This leads to a slide below $65000, increasing the bearish pressure on the price of Bitcoin.

Potential lower targets are the $64,000 and $63,000 levels. Additional support can be found in the zone around $62000 in the EMA200 moving average. Bitcoin’s current market cap is 1.3 trillion dollars, and the volume in the last 24 hours was about 100 billion dollars.

The post Bitcoin price jumps to a new all-time high at $69210 appeared first on FinanceBrokerage.