Published on November 15th, 2017 | by bitcoin0
Bitcoin Approaches $7000 After Turn-Around
As per the CoinDesk Bitcoin Price Index, the world’s largest cryptocurrency by market capitalization rose to an intraday high of $7,009 at 11:25 UTC.
Data from CoinMarketCap indicates that bitcoin has gained nearly 6.74 percent in the last 24 hours.
Price action analysis suggests the tide is slowly turning in favor of the bulls, although the last major domino – the 61.8 percent Fibonacci retracement – is yet to fall.
As discussed in the previous update, bitcoin prices have moved higher after having consolidated above the key trendline level.
Bitcoin is struggling to break above $6,986 (61.8 percent Fibonacci retracement of the recent sell-off).