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08.06.2020 BTC Daily Analysis

Bitcoin is surging and it recently tested the $9,400 support area against the US Dollar. BTC price is likely to continue higher towards $10,000 as long

Yazar: editor_1

Yayınlanma: 9 Haziran 2020 22:45

Güncellenme: 12 Kasım 2024 21:59

08.06.2020 BTC Daily Analysis

Bitcoin is surging and it recently tested the $9,400 support area against the US Dollar. BTC price is likely to continue higher towards $10,000 as long as it is above the 100 hourly SMA. In the past two sessions, there were swing moves in bitcoin price below $9,800 against the US Dollar. BTC declined sharply below the $9,600 and $9,500 level, but the $9,400 region acted as strong support. Bitcoin is generally secured with a combination of a public and private key. In order to transact on the Bitcoin network, a user needs to sign each transaction with their private key. This works fine in most use cases, but there are situations where this setup is not ideal.
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