The cryptocurrency is now slightly lower, trading around $65,700 at press time, although buyers could hold support above $63,000-$65,000 into Asian trading hours.
Intraday charts are showing initial signs of upside exhaustion, which typically lead to a brief pullback in BTC’s price.
Still, upside momentum signals are improving on the daily price chart for the first time since Oct.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
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