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Bitcoin avoids recent lows as BTC price eyes $60K into the weekly close
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Bitcoin (BTC) hovered near $59,000 as Nov. 21 came to a close after avoiding a retest of its recent lows.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD almost hitting $60,000 before consolidating in a new higher range after sudden gains Saturday evening.
The pair had hit lows of $55,650 during the week, these marking its lowest point in over a month, but further retests failed to materialize as sentiment improved.
Adopting a calmer perspective into the weekly close, analysts thus looked to the long term to understand the overall health of the market.
"Since breaking its black 200-day EMA, BTC rallied to new All Time Highs. Still over +50% above the 200 EMA, despite the recent retrace from ATHs," Rekt Capital summarized on
Read more on cointelegraph.comAbout this in other media
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