TL; Fault DR
- Bitcoin price analysis is declining today.
- The BNB / USD returned overnight from the $ 62,000 resistance.
- Today’s downtrend lowers the BTC.
Bitcoin price analysis is bearish today as resistance at $ 62,000 prevented a overnight reversal. Therefore, we expect BTC / USD to move even further to lower another volatility.
The overall market traded with different results in the last 24 hours. Bitcoin, the market leader, fell 0.21 percent, while Atrium fell 3.04 percent. Dogecoin, meanwhile, as a rare exception, has risen about 14 percent.
Bitcoin price movement in the last 24 hours: Bitcoin has returned from the resistance of $ 62,000
BTC / USD traded in the range of $ 59,164.47 – $ 62,614.66, which shows a moderate fluctuation in the last 24 hours. Trading volume increased by 21.32% to a total of $ 35.2 billion, while the total market value was trading at about $ 1.15 trillion, resulting in 46.89% market dominance.
4-hour chart BTC / USD: Will BTC continue again today?
In the 4-hour chart, we can see the price of Bitcoin again because the cows are not yet ready to break the $ 62,000 mark.
Bitcoin price movements this month have seen a very strong rise. The first price increase began on October 1, after accumulating above $ 41,000 at the end of September.
The BTC / USD has reached a multi-month high of $ 62,900 after a few weeks or a bullish move. From there, repairs that re-tested $ 60,000 as support were seen over the weekend.
Late yesterday, BTC experienced a rapid jump, followed by a move above $ 62,000. Resistance prevented further uptrends, meaning that more correction and stabilization was needed before the bitcoin price could prepare for further uptrends.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bearish today as another reversal was seen against the $ 62,000 resistance earlier today. Therefore, BTC / USD is not yet ready to move higher and needs to be adjusted to determine the lowest level.
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