Indeed, recent charts have demonstrated that Bitcoin has had a confirmed break above its 50-day moving average (MA) for the first time since the crash of once one of the largest crypto exchanges in the world, investment insights platform Game of Trades highlighted on its Twitter profile on January 10. According to the analytics platform’s post, after the break above $16,857, the next key resistance level that the maiden cryptocurrency will have to break above for a bullish continuance has currently formed in the area at around $17,600, with the next resistance located at $19,031.
Bitcoin price analysis
Meanwhile, the flagship digital asset was changing hands at the price of $17,304.12 at press time, representing an increase of 0.19% across the previous 24 hours, as well as 3.73% compared to the seven days before, while its gains on the monthly chart are standing at 0.85%. At the same time, Bitcoin’s market cap stands at $333.24 billion, whereas its 24-hour trading volume amounts to $16.09 billion (931,583 BTC), positioning it at second place by this indicator, as Tether (USDT) ranks first with daily trading volume of $26.07 billion, according to CoinMarketCap data retrieved by Finbold on January 10. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
