Bitcoin is on the verge of entering risk-on mode after repeatedly testing $30,000 support level, according to a technical analyst

Bitcoin has recovered a lot of ground following its steep correction to $28,800 earlier this month, with the popular cryptocurrency trading above its 20-day moving average for the first time since mid-June on Tuesday.

“We would view a breakout above the 50-day MA as a positive catalyst supporting a test of secondary resistance near $44,000,” Fairlead’s Katie Stockton said.

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