BTC price hits 2-month high amid bet Bitcoin will break $32K ‘soon’

 

The price of bitcoin sets up a weekly showdown.

According to Cointelegraph Markets Pro and TradingView data, the price of bitcoin reached a fresh two-month high of $30,233 on Bitstamp.

The pair continued to gain over the Asian trading day, and as of this writing, there has been a little decline that has pushed the spot price back below $29,500.

Market players believed that a weekly candle close was necessary to determine the rally's genuine staying strength because volatility was still present.

Keith Alan, co-founder of the monitoring tool Material Indicators, placed special emphasis on the 100-week moving average (MA) at $28,627.

This move is one to keep an eye on, but for now I'm checking to see if this week's candle closes above the 100-week moving average and if next week's candle does the same.