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Bitcoin Price Analysis: Bitcoin is rapidly moving above $ 58,000 and is more bullish?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish today.
  • BTC / USD rose again overnight.
  • The closest resistance is at $ 59,000.

Bitcoin price analysis is bullish today because the new high was set today and shows that the bullish movement is still strong. Therefore, we expect the BTC / USD to increase further in the next 24 hours.

Bitcoin Price Analysis: Bitcoin is rapidly moving above $ 58,000 and is more bullish?  1
Encrypted currency heat map Source: Coin360

The general market turned green in the last 24 hours. Bitcoin rose 3.35% and Atrium 8.67%. Polkadot (DOT) is the top actor with an increase of almost 17%.

Bitcoin price movement in the last 24 hours: Bitcoin reaches over $ 58,000

BTC / USD traded in the range of $ 55,803.69 – $ 58,478.74, which shows a strong fluctuation in the last 24 hours. Trading volume increased by 4.88% to $ 41.3 billion, while the total market value was trading at about $ 1.08 trillion, resulting in a market dominance of 45.28%.

4-hour chart BTC / USD: Will Bitcoin start again before climbing again?

In the 4-hour chart, you can see the decline in the price of Bitcoin in the past few hours, which shows that a slight correction can be seen before trying to climb further.

Bitcoin Price Analysis: Is the price of Bitcoin higher than $ 58,000 and more bullish?
4-hour chart BTC / USD. Source: TradingView

Bitcoin prices rose sharply in October. After leaving the previous aggregation zone below $ 44,000, BTC / USD increased several times until it reached $ 56,000 on October 7.

What happened next was under resistance for several days before we saw another increase on Monday. BTC / USD reached $ 58,000 and adjusted slightly from there.

The uptrend crossed the $ 54,000 mark yesterday and as a result rose again. Overnight, a new high was set at around $ 58,500, indicating that the market structure is still bullish.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish in the next 24 hours as a new record was set overnight. However, a slight correction can be seen later today before the return of the uptrend.

As you wait for more bitcoin to move, read our guide to the best NFT markets, NFT history and development, as well as NFT music.

Disclaimer. The information provided is not a commercial recommendation. Ramzifa.ir is not responsible for the investments made based on the information provided on this page. We strongly recommend independent research and / or consultation with a qualified professional before making an investment decision.