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With the start of the new week, the price of bitcoin has risen above $ 56,000, thereby reducing the distance to $ 60,000. The potential of BTC continues to grow every day, which is facilitated by a large number of whales.
Over the past couple of weeks, the flagship cryptocurrency has turned a lot of resistance into critical support areas. This means that the bulls have not exhausted their strength.
Against this background, fundamental indicators began to improve in the bitcoin network, confirming that the uptrend will remain intact in the coming days or weeks.
Today, the main cryptocurrency is trading near the price mark of $ 56,800, thanks to which the recent resistance at $ 52,000 turned into support and strengthened the bulls in an effort to reach the upper highs.
Judging by the daily chart, the intraday prospects for bitcoin seem confidently optimistic. A steady buy signal the convergence of the divergence of moving averages (MACD) reinforces the growing influence of bulls. In addition, the relative strength index (RSI) adds confidence to optimistic forecasts, as it breaks into the overbought area.
Since the RSI follows the trend of the asset, it also calculates the strength of bulls and bears. The constant movement to the north increases the aggressiveness of buyers. For this reason, bitcoin looks ready to make a profit above $60,000.
The growth in bitcoin’s popularity over the past couple of weeks can be explained by the growing appetite of investors for risk, which is enhanced by improving sentiment towards bitcoin and cryptocurrencies in general.
According to the statement of Santiment, whales with balances from 100 to 1000 BTC continue to accumulate cryptocurrency, having added approximately 85,700 BTC since the end of September.
Currently, these whales control 21.3% of the total number of bitcoins, which is the highest level in the history of BTC. As the demand for BTC grows, it will be easier to gain momentum. Thus, a rise above $60,000 is only a matter of time.
Daily Bitcoin Levels
Spot rate: $56,614
Resistance: $58,000 and $60,000
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