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Bitcoin Price Analysis: Bitcoin re-tests $ 62,000 as support, getting ready to climb further?

 تاریخ انتشار :
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  Bitcoin

TL; DR failed

  • Bitcoin price analysis is bullish today.
  • BTC / USD continued at $ 62,000.
  • The nearest resistance at $ 65,000 is the next target.

Bitcoin price analysis is bullish today as the $ 62,000 mark has been re-tested as support after a slow correction. So, we expect the Bitcoin / US Dollar to move higher in the next 24 hours and then try to break the $ 65,000 mark.

Bitcoin Price Analysis: Bitcoin re-tests $ 62,000 as support, getting ready to climb further?  1
Thermal map of digital currencies. Source: Coin360

Despite falling 0.28%, market leader Bitcoin has been trading in the upside for the past 24 hours. Atrium grew 1.71 percent, while Shiba Inu (SHIB) performed best with a 25 percent increase.

Bitcoin price movement in the last 24 hours: Bitcoin moves again to test $ 62,000 as re-support

BTC / USD traded in the range of 62241.17 to 63729.33 $, which shows slight fluctuations in the last 24 hours. Trading volume increased by 8.23% to a total of $ 32.7 billion, while the total market value was trading at about $ 1.18 billion, which led to a market dominance of 45.09%.

4-hour Bitcoin / Dollar Chart: Is Bitcoin ready to move higher?

In the 4-hour chart, we can see the price of Bitcoin stabilize above $ 62,000, as cows are preparing for a higher pressure today.

Bitcoin Price Analysis: Bitcoin re-tests $ 62,000 as support, ready to climb further?
4-hour chart BTC / USD. Source: TradingView

Bitcoin price performance has been strong in recent weeks. After more than a week above $ 41,000 at the end of September, a strong rally started on October 1st.

Since then, BTC / USD has steadily improved, reaching a new record high of $ 67,000 on October 20. Last week, Bitcoin recovered some of its profits and found support at $ 60,000.

After some stabilization and re-testing of support on October 24, another uptrend followed. The price of Bitcoin peaked above the $ 62,000 resistance / support area and peaked just below $ 64,000.

The $ 62,000 mark is currently being tested as support. If it continues, we expect the Bitcoin / US dollar to see more uptrend later this week.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish today as the new low is set overnight in support of the $ 62,000 resistance. If bitcoin / dollar does not fall, it is expected to rise again today and its next target is $ 65,000.

As you wait for more bitcoin to move, read our guide to LTC wallets, Gero wallets and DeFi wallets.

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 any investment decisions.