3 min readBITCOIN (BTC/USD):
After Trump’s inauguration, Bitcoin appears to remain somewhat confined within a consolidation range just below its previous all-time highs (ATHs). Early yesterday morning, however, it briefly broke above these previous ATHs, reaching a new record high of approximately $109,000.
A closer examination of the technicals reveals that once we broke out of the internal descending trend line, the price action quickly gained upward momentum. This was followed by a textbook short-term retest of the broken trend line before continuing its ascent. At present, there are no clear signs of the price being “oversold.” I’ll be monitoring closely to see if we can maintain this momentum and push into new all-time highs (ATHs).
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
