Bitcoin price saw substantial increase, and some indicators suggest it will continue
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It appears from recent data that Bitcoin miners who have been liquidating their holdings are starting to give in. It is possible that a price recovery will be facilitated by this easing of selling pressure and the downward momentum. Germany was the biggest Bitcoin seller in the last few days, and it seems like they are finally done with it.appears to be reversing, according to a number of mean reversion indicators.
Additionally, encouraging signs can be seen in the technical on the Bitcoin price chart. After recently recovering from the 200 EMA support level at $58,201, the price of Bitcoin is currently trading at about $60,265. The next resistance levels to keep an eye on are the 50 EMA and 100 EMA. If these levels are broken above, it may validate a bullish trend and pave the way for yet another significant rally.
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