BITCOIN - BTC/USD - BTCUSD, Daily - 05/08/2023 (GMT)
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BITCOIN - BTC/USD Chart
Bitcoin landed on the 50-day moving average, which corresponds to the dynamic support zone in the context of a rising trend, and may bounce back higher as shown in the chart. It looks stronger than the equity markets, as S&P500 and Nasdaq are consolidating, but Bitcoin is being dynamically accumulated, which could potentially turn into a bigger move with a target of $31,000. Assuming gold doesn’t absorb all the trading volume.
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