Bitcoin Price Consolidates At Six Week Highs

Bitcoin price retreat slightly today as crypto investors poised for a test of the 100 and 200 day moving averages. A healthy uptrend that started since the March 13 lows is intact making fresh six week highs. Bitcoin approaches slowly to the strong critical resistance at 100day moving average, which will determine the trend in the upcoming weeks.

The World Economic Forum (WEF) earlier today published a report looking at how the deployment of blockchain-based solutions can address the supply chain inefficiencies and failures that have been exposed by the coronavirus outbreak. World Economic Forum has also released a blockchain deployment toolkit intended to assist government and businesses in adapting their supply chains to the current economic climate.

Investors await the third Bitcoin block reward halving which will occur in two weeks from now, and many bet that a strong rally will incur before the halvening event. The question that traders needs to answer is how much of…