Tesla’s Bitcoin Dilemma: To Sell or Not?
Bitcoin Price Prediction
Bitcoin‘s market performance today showcases a positive movement, with its price at $42,945, marking over 2% increase in the last 24 hours. Currently leading the cryptocurrency market with a rank of #1, Bitcoin has a live market cap of $842.32 billion, based on a circulating supply of 19.62 million BTC out of a total 21 million.
In the 4-hour chart, the pivot point is set at $42,635. Resistance levels are identified at $43,844, $44,585, and $45,558, while support lines stand at $41,876, $40,918, and $40,123. Technical indicators reveal an RSI of 55, suggesting a moderate buying interest. The MACD indicator shows a value of -36 against a signal of 157, indicating a mixed momentum, while the 50-day EMA at $42,105 supports the current uptrend.
Bitcoin’s chart pattern forms an upward channel, with the RSI and supportive channel pointing towards a bullish trend around the $42,600 level. The technical outlook for Bitcoin is bullish above the pivot point of $42,635, suggesting potential for further gains if it maintains above this threshold.
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