


Bitcoin's value has increased by over 7% in just two days.
According to information from Cointelegraph Markets Pro and TradingView, the BTC/USD exchange rate soared to $27,200 on Bitstamp, marking its highest level in several days. This uptick represents an approximately 7.5% increase compared to the week's lowest point during the final Wall Street trading session.Michaël van de Poppe, the founder and CEO of the trading firm Eight, responded optimistically, stating, "Bitcoin is showing strong momentum as it wipes out recent lows and climbs back up to $27.2K."
“Patience, as flipping $27.2K is the first serious trigger for continuation upwards. In that case, close to a temporary bottom & potentially new highs to $36-42K still possible.”

“It's good to note how during strong trends (up and down), these gaps are more likely to be left open.”


Bitcoin enthusiasts encounter a difficult weekly task
As the week draws to a close, trader and analyst Rekt Capital expressed a less optimistic view about immediate prospects.In his daily analysis, he cautioned that if Bitcoin closes at $27,550 or below, it could be susceptible to additional losses.In his commentary on the weekly chart, he stated, "A weekly close below $27,550 (depicted in black) would likely signal further decline in price after failing to regain $28,800 as support (marked in orange)."


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