BTC hits a 3-week high, ahead of today's inflation report.
As a result of this earlier breakout,/USD fell to a low of $1,682.43 in today’s session, which was short lived, as bulls swiftly reentered, sending prices higher.
This resulted in a peak of $1,752.76, and as of writing, the world’s second largest cryptocurrency is trading at $1,740.88.Following a move beyond a ceiling of 59.55 to start the week, the RSI is now tracking below this level, with bearish sentiment still present. Despite this, many still expect the token to climb above $1,800 this week, largely due to The Merge, but also the crossover between the 10-day and 25-day moving averages.
Should these trend lines continue on their current paths, we will likely see further surges in price in the coming weeks.Tags in this story
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