Has Bitcoin Been Building Up Resistance Near The $60,000 Level?

Has Bitcoin Been Building Up Resistance Near The $60,000 Level?

The world's most valuable digital currency by market value has made these attempts on the $60, 000 level after reaching an all-time high of nearly $69, 000 on November 10 and subsequently falling more than 20% from this zenith, CoinDesk data shows. The cryptocurrency repeatedly tested the $53, 000 level between November 26 and November 28, additional CoinDesk figures reveal. Then, it rose in value, reaching $58, 890. 73 on November 29, $59, 223. 38 on November 30 and $59, 096. 88 today. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] In light of these recent events, several technical analysts weighed in on whether the cryptocurrency has been establishing support near the $60, 000 price level. "Bitcoin's resistance build-up around the $60, 000 psychological level is obvious as the premier coin has traded above $59, 000 enroute that point about 4 times in the trailing 7-days," said Greg Waisman, co-founder and COO of the global payment network Mercuryo. "While this point is a strong resistance to breach, the consolidated action of both retail and institutional investors in catching the expected growth