• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Bitcoin is close to returning to the weekly open price

by August 7, 2024
written by August 7, 2024

Bitcoin is close to returning to the weekly open price

On Monday, Bitcoin’s price fell below $50,000 on two occasions.

Bitcoin chart analysis

On Monday, Bitcoin’s price fell below $50,000 on two occasions. After the confirmation of support at that level, a bullish consolidation was initiated, which has remained current even today. This morning, we saw the formation of a new high at the $57300 level. This morning, we also retested the EMA 50 moving average and the $56,000 level. The support level, which looks stable, should reassure us and give us confidence that we can see the price of Bitcoin at a new daily high.

We will test the weekly open price at $58152, which could be a turning point for further movement. With a break above, we will wipe out this week’s entire loss and return to the positive side. The next impulse would push us to $60000, where we will test the EMA 200 moving average. If the bullish momentum continues, we will easily break this resistance and form a new weekly high.

The price is steadily recovering with support at the $56000 level and the EMA 50 moving average.

Potential higher targets are $62000 and $64000 levels. For a bearish option, the price of Bitcoin would have to first pull back below the EMA 50 and the $56,000 level. This would make the first negative step to the bearish side. We also test the daily open price in that zone, and when it falls below, we move to the negative side and confirm that we are under pressure.

After that, we have to continue the pullback and look for a new support level. On the downside, the $54,000 level is an important point for continuing the bearish trend. Potential lower targets are the $52000 and $50000 levels.

 

The post Bitcoin is close to returning to the weekly open price appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Google loses antitrust case over search
next post
Ethereum has stabilized over the past two days above $2400

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump says he could ‘walk away’ from Russia-Ukraine talks, cites ‘tremendous hatred’ on both sides

    May 4, 2025
  • Nvidia opens NVLink Fusion ecosystem, expands Taiwan footprint with Foxconn

    May 19, 2025
  • President-elect Trump’s Syria dilemma: Intervene or let it turn into terror state

    December 23, 2024
  • Inside the late-night drama that led to Trump’s tax bill passing by 1 vote

    May 30, 2025
  • Trump scores major win as Senate installs IRS critic to lead the agency

    June 12, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,223)
  • Investing (634)
  • Stock (829)

Latest Posts

  • US investigating release of classified docs on Israel’s planned strike on Iran

    October 20, 2024
  • Feds open probe into RFK Jr for allegedly decapitating a dead whale

    September 17, 2024
  • Boeing’s Starliner losses top $2 billion after spacecraft program reports worst year yet

    February 5, 2025

Recent Posts

  • Bitcoin falls to a new weekly low on Tuesday below

    October 1, 2024
  • US will know in ‘matter of weeks’ if Russia is serious about peace or using ‘delay tactic’: Rubio

    April 4, 2025
  • Trump budget bill with $4.5 trillion in tax cuts survives House vote

    February 26, 2025

Editor’s Pick

  • The dollar index returned to the positive side on Friday

    August 9, 2024
  • CDC staff told to remove terms like ‘non-binary,’ ‘they/them,’ ‘pregnant people’ from public health material

    February 7, 2025
  • Trump says ‘there’s something wrong’ with top Democrat he’s known ‘a long time’

    May 14, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock