Bitcoin (BTCUSDT) rose 25.57% last week, reaching its highest for the month. It faces resistance at 39.256 and a breakthrough would pave the way for further strong growth.
Here are four reasons to buy Bitcoin right now:
- SEC Commissioner Esther Pearce urged faster adoption of cryptocurrency ETFs in the US, noting that Canada and Brazil have already approved the launch of these investment products, leaving the US behind.
- Cryptocurrency exchanges have been experiencing an outflow of Bitcoin lately, indicating that markets have switched to accumulation mode.
- Institutional investors are showing a growing interest in cryptocurrencies. According to Glassnode, open interest in Bitcoin futures is at a monthly high.
- Technical Analysis: The next resistance level for BTCUSDT is at $ 39,256.00. Exceeding this level will open up growth opportunities at $ 41,330.
Here are the intraday levels of BTC:
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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
THE OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.
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