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NewsBTC 2022-10-03 15:50:37

Bitcoin Sees Bullish Opening, Can BTC Reclaim $20,000 Region?

The Bitcoin price has been able to hold its ground over the weekend, and it’s hinting at a potential bullish week for the nascent asset class. The cryptocurrency has been stuck in a tight range for the past month, unable to reclaim and flip the area north of $20,000 back to support. Related Reading: Bella Protocol Shows Strength, Can Bulls Break A Key Resistance? At the time of writing, Bitcoin (BTC) trades at $19,400 with a 2% profit in the last 24 hours and a 3% profit over the past week. In the crypto top 10, most cryptocurrencies are trading sideways or with small profits in the last hour, as this trading session prompted low timeframe bullish momentum across the board. Bitcoin Gearing Up For The Upside, $20,500 Holds The Key Today’s bullish trading session has been supported by a rebound in traditional finance markets. Major U.S. indexes were able to rebound from last week’s downside move and have been recovering allowing Bitcoin and other cryptocurrencies to display some strength on lower timeframes. The upside move might come as a surprise to many market participants expecting more losses over the rumors of insolvency surrounding financial institution Credit Suisse. Top representatives from the bank have denied the rumors, and the markets seem to be pricing them to the upside, so far. Analyst and trader Adam Mancini celebrated the recent bullish price action for the stock market and hinted at the potential continuation ...

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