Bitcoin (BTC) to gain traction to $6,700-says Brazil-based Atlas Quantum

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  • Bitcoin is testing the newly established support $6,500.
  • In the wake of Bitcoin Satoshi whitepaper 10-year anniversary BTC/USD has resumed the bullish trend.

After Bitcoin broke free from the resistance range with the upper limit at $6,400, the trend has been steady. Besides, the crypto broke above $6,500 on Tuesday. Atlas Quantum, a cryptocurrency investment based in Brazil has released its top news that is changing the sentiments in the market. The team and the CEO, Rodrigo Marques reckon that Bitcoin is poised for a retracement above $6,700.

However, at the moment, Bitcoin is still testing support levels, although the support areas are expected to hold. The good thing is that investors are ready to take up positions in the market in readiness for the end year bull rally that could see Bitcoin retrace to levels beyond $10,000. The Atlas Quantum thinks that this is the right time for investors to align themselves for the impeding move upwards.

Some of the news that have been significant in the industry include Coinbase valuation of $8 billion, the firm also landed $300 million more in fund raising which will be used to expand the portfolio of the exchange. On the other side, the crypto community celebrated the 10-year anniversary since Satoshi White Paper was released.

Bitcoin price technical picture

Bitcoin price has remained unchanged since the analysis published by FXStreet earlier today. As discussed in the analysis BTC/USD is fighting to defend the support at $6,500. The trendline support is holding well to ensure the price doesn’t slide below $6,500. A couple of support areas exist at $6,440, $6,380 and the primary support at $6,200.

Find the latest Bitcoin price analysis here.

BTC/USD 1-hour chart

 

 

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