TL; DR failure
- Bitcoin price analysis is bullish today.
- BTC / USD found overnight support at $ 60,000.
- The closest resistance is at $ 63,000.
Bitcoin price analysis is bullish today, as the new low is set higher at $ 60,000, indicating that a break above $ 63,000 should reach the local high. Therefore, we expect the Bitcoin / US Dollar to move higher in the next 24 hours, possibly after correction.
The whole market traded up in the last 24 hours. Bitcoin increased by 2.61% and Atrium by 3.61%. Meanwhile, SHIB Ino (SHIB) is the top performer with a 20% increase.
Bitcoin price movement in the last 24 hours: Bitcoin gained support at $ 60,000 after a slow correction
BTC / USD traded in the range of 59695.18 to 62419.00 dollars, which shows significant fluctuations in the past 24 hours. Trading volume increased by 12.4% to a total of $ 36.7 billion, while the total market value was trading at about $ 1.17 billion, which led to a market dominance of 43.89%.
Bitcoin / Dollar 4-Hour Chart: Bitcoin appears to be testing $ 63,000 resistance again
In the 4-hour chart, we can see the Bitcoin price approaching the $ 63,000 resistance after a lower set at $ 60,000, which potentially indicates a higher increase later today.
Bitcoin price movements have continued to decline in the past week. After breaking the previous record high of $ 65,000 on October 20, BTC / USD set a new high at $ 67,000.
However, since then, bitcoin has declined slowly. The $ 60,000 mark provided some initial support until last week, when the breakout reached $ 58,000.
Since then, the Bitcoin price action has tested the $ 63,000 mark below which aggregation has formed. After falling yesterday, the lowest level was set at $ 60,000, which is probably before a higher failure in the next 24 hours.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as the new low is above $ 60,000, indicating a higher move should be followed. However, the BTC / USD must first cross the $ 63,000 mark, as it was already strong.
As you wait for more bitcoin to move, read our guide to LTC wallets, Gero wallets and DeFi wallets.