Amid bitcoin's rise to
$60,000, some experts were wary, considering its position not too confident. Ali, a tech analyst, pointed out that the asset is still trading below the 200-day simple moving average.
"Wait for a sustained consolidation above the 200 DSMA to confirm continuation of the uptrend," he advised.Daan Crypto trader Daan Crypto noticed a pattern: lately bitcoin has been moving up on weekends but falling again at the beginning of the week. He compared such dynamics with the trading on
CME, after the opening of which prices collapse.
However, analyst and founder of
MN Trading Michael van de Poppe said that a "new cycle" has begun in the market.