TL; Fault DR
- Bitcoin price analysis is bullish today.
- BTC / USD merges above $ 60,000.
- The next significant resistance is at $ 65,000.
Bitcoin price analysis is bullish today as the price stabilization formed after a slight change yesterday from $ 62,000 to above $ 60,000. Therefore, we expect the BTC / USD to rise again in the next 24 hours, targeting $ 65,000 next week.
The overall market has been more negative in the last 24 hours. Bitcoin, the market leader, fell 0.03 percent, while Atrium fell 1.54 percent. Meanwhile, the Fantom (FTM) has the best performance with an increase of more than 12%.
Bitcoin price movement in the last 24 hours: Bitcoin tests $ 60,000 again as re-support
BTC / USD traded in the range of $ 60,206.12 – $ 61,413.82, indicating low volatility in the last 24 hours. Trading volume fell 34 percent to $ 28.97 billion, while the total market value was trading at about $ 1.145 billion, resulting in market dominance of 46.29 percent.
4-hour chart BTC / USD: Is BTC getting ready for another rally?
In the 4-hour chart, we can see the price of Bitcoin rise above $ 60,000, which is likely to lead to another increase next week.
Bitcoin price performance has risen sharply so far in October. A further increase was observed on October 1, following a strong downside of about $ 41,000 at the end of September.
BTC / USD reached a previous resistance of $ 48,500 on October 2, while the second increase in the price of Bitcoin on October 7 reached $ 56,000. After a few more days of aggregation, the third price increase started on Wednesday, pushing BTC above the $ 60,000 price target.
Finally, the price of Bitcoin briefly reached above $ 62,000 on Friday, and has been slowly improving since then. Over the past 24 hours, a build-up above $ 60,000 has been created, indicating that we are likely to see another move above that.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as the new local low was set in the last 24 hours after a slight correction yesterday. As long as the $ 60,000 support is maintained, we expect the BTC / USD to continue to move next week.
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