Bitcoin price still in ‘prime buy zone’ even with rally to $65K
Analysts say Bitcoin price remains in an optimal buy zone even after BTC rallied to $65,500 today.
Bitcoin (BTC) price tagged $65,000 during the early Asian trading session on May 6 as the 50-day exponential moving average (EMA) held as BTC’s immediate support.
Data from Cointelegraph Markets Pro and TradingView showed that the BTC/USD pair turned up from lows of $63,340 on May 6, rising 3.45% to an intra-day high of $65,523.
BTC is now approximately 15% above its two-month low of $56,500, reached on May 1 last week, as concerns over the stagflation of the U.S. economy sent investors into a risk-off mode.
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Author: Nancy Lubale
