Bitcoin Price Analysis: BTC Passes $77k For First Time After Trump Election Win As Traders Turn To This PolitiFi Token For 10X Gains
The Bitcoin price climbed 1% in the last 24 hours to trade at $76,557 as of 9:09 p.m. EST, despite trading volume dropping 14% to $51.65 billion. The Donald Trump election victory continued to pump markets over the past 24 hours, with Bitcoin clocking another all-time high at $77,252, according to CoinMarketCap. Bitcoin Price Set For A Continued Rally The Bitcoin price, according to the BTC/USD chart Analysis on the 4-hour chart, shows a clear “cup and handle” formation (highlighted in yellow). This is a bullish continuation pattern, which generally suggests a potential upward breakout if confirmed. According to GeckoTerminal data, a sustained breakout above the resistance level of around $76,500 could lead to a significant price rally. BTC price now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), further supporting the generally bullish outlook of the price. The Relative Strength Index (RSI) is currently at 65.26. Although it’s in the ...