Bitcoin Price to Hit $70,000 After $4.8B Liquidations

Quick Summary:

Bitcoin (BTC) price bullish outlook on Thursday ignored extensive uncertainty among investors, which continues despite the Federal Reserve committing to the first rate cut of the year in September.

Higher support will encourage more traders to consider taking long positions in BTC, targeting a significant rally over the weekend.

Above the support, traders will focus on the 200-day Exponential Moving Average (EMA) and the 50-day EMA confluence resistance at $61,193.

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Article Details

Author / Journalist: John Isige

Category: Crypto

Markets: India

Topics: Bitcoin Price Analysis Bitcoin (BTC) Price Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 16:26:59 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 44 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22298906

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 12 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 11 hours ago

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