TL; DR failure
- Bitcoin price analysis is bullish today.
- BTC / USD reached its lowest level of $ 61,000.
- Next resistance at $ 63,000.
Bitcoin price analysis is bullish today, as we expect it to bounce back after hitting a high of $ 61,000 yesterday.
The cryptocurrency market has traded more in the red over the past 24 hours. Market leaders Bitcoin and Atrium lost 0.84%, while Atrium lost 0.94%. Meanwhile, Baines Coin (BNB) dominates the market with a growth of 9%.
Bitcoin price movement in the last 24 hours: Bitcoin reached its lowest level at $ 61,000
BTC / USD traded in the range of 60799.66 to 62541.47 dollars, which means average fluctuations in the last 24 hours. Trading volume fell 6.9 percent to a total of $ 32.6 billion, while the total market value was about $ 1.16 trillion, leading to a market dominance of 42.74 percent.
4-Hour Bitcoin / Dollar Chart: Will the next bitcoin go higher?
In the 4-hour chart, we can see the uptrend that has slowly returned, as the Bitcoin price action is ready to move again.
The price of Bitcoin has been steadily declining since setting a new all-time high of $ 67,000 on October 20. After several declines, support on October 27 was $ 58,000.
Since then, BTC / USD has stabilized below $ 63,000 resistance and $ 60,000 support. On November 2, the highest level was set at $ 64,000, followed by a correction that was slightly above the bottom.
Overall, the rise in the price of Bitcoin last week indicates that we will probably see a further increase next week. Currently, we see BTC / USD preparing for another increase, which is likely to lead to a drop in prices above $ 63,000 later today.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as its lowest level is set at $ 61,000. Therefore, we expect the uptrend to return and the bitcoin / US dollar to rise in the next 24 hours.
As you wait for more bitcoin to move, read our guide to NFT, Gemini Exchange Review and Sunacrip tokens.