Bitcoin Price Rallies 5.5% to $8K – Is $8.2K the Next Stop?
Horus Hughes's original article for cointelegraph.com reduced by 75%
On Monday during the U.S. evening trading session, Bitcoin price continued its rally from $7,358 and at the time of writing the price pushed as high as $8,000. The 4-hour close above $7,600 pulled the price above the 50-day moving average and provided bulls with enough confidence to push the Bitcoin to set a daily higher high not seen since Nov.
21 when the asset traded for $8,122. Currently, Bitcoin price is closing in on the 200-day moving average and this point is also within $40 of the main trendline of the long-term descending channel which formed when Bitcoin topped out at $13,800 on Jun.
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Summarised crypto news.