#trading #bitcoin consolidates at $27,500 post last week’s short-term rally

After surging above the US$28,000 level, Bitcoin traded between US$27,500 and US$27,800 this week. Factors such as a surge in the US 10-year Treasury yield by 11 basis points to reach 4.8% on Tuesday, and traders capitalizing on recent profits, led to a period of consolidation.

The immediate resistance levels for Bitcoin on the upside are located around US$27,650 and subsequently US$28,000. A decisive breakthrough above the US$28,000 resistance level could trigger another bullish run. How ..

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https://economictimes.indiatimes.com/markets/cryptocurrency/bitcoin-consolidates-at27500-post-last-weeks-short-term-rally/articleshow/104232423.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst