TL; DR failure
- Bitcoin price analysis is bullish today.
- BTC / USD moved above the previous resistance of $ 63,000.
- Yesterday down strong set higher.
Bitcoin price analysis is bullish today as the previous high of $ 63,000 has been broken in the past few hours. Therefore, we expect Bitcoin / USD to continue at its highest level, bringing the next price to $ 65,000.
The overall digital currency market has seen a reversal in the past 24 hours. Bitcoin, the market leader, grew 3.1 percent and Atrium 3.52 percent. Loopring (LRC), meanwhile, has the best performance with a 67% increase.
Bitcoin price movement in the last 24 hours: Bitcoin reached above $ 63,000
BTC / USD traded in the range of 60,487.64 to $ 63,798.21, which shows a significant fluctuation in the last 24 hours. Trading volume fell 5.93 percent to a total of $ 34.58 billion, while the total market value was about $ 1.2 trillion, leading to a market dominance of 44.17 percent.
4-hour Bitcoin / Dollar Chart: Does Bitcoin reach $ 65,000 today?
In the 4-hour chart, we can see a reversal of the uptrend over the past few hours for the bitcoin price action, which will probably lead to the next resistance at $ 65,000 later today.
Bitcoin price movements have seen a downward return in recent weeks. After a few weeks of progress for most of October, the previous record high of $ 65,000 was broken on October 20, pushing the new price to $ 67,000.
Since then, Bitcoin / USD has provided initial support with $ 60,000. A further bearish move followed late last week, reaching $ 58,000. Since the last low swing, Bitcoin has improved to $ 63,000, leading to a second lower set.
Over the weekend, a slow correction led to a $ 60,000 price drop. After the initial failure of the higher pressure, the cows finally moved earlier today, leading to the current failure above $ 63,000.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as the new high is set above $ 63,000. Therefore, we expect BTC / USD to continue at its highest level and target the next resistance at $ 65,000 in the future.
As you wait for more bitcoin to move, read our guide to LTC wallets, Gero wallets and DeFi wallets.