Bitcoin Price Breakout Above $44k




Bitcoin made a strong move above the 3-months long trading range. SO far today, the largest cryptocurrency continued to push higher even with weekend trading hours, reaching an in trading high of $44,701 as at the time of writing this post.

At this point, the digital asset was trading at its most elevated leave since May 19, additional CoinDesk data reveals this.

However, Katie Stockton, the founder and managing partner of Fairlead Strategies, LLC. Said earlier that bitcoin has been trading primarily between $30,000 and $42,000 since late May, but the latest gains don't mean the cryptocurrency has broken through resistance near the upper bound of that range.

"A confirmed breakout would require consecutive closes above $42,465," she started.

William Noble, the chief technical analyst of research platform Token Metrics said similar input.

"$43,700 is an important resistance point for bitcoin." He said.

"If bitcoin moves above that level, and successfully requests it, the uptrend can accelerate", added Noble.

"$49k could be the next stop and I would not rule out a gap move back to the highs at $64k", he concluded.

Now that bitcoin has a breakout above $44k, that means we should be expecting more bullish.

What do you think?



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