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Bitcoin Price Analysis: Bitcoin Returns to Over $ 65,000, Is the Market Slowly Retreating Before Continuing Its Uptrend?

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  Bitcoin

TL; DR failed

  • Bitcoin price analysis is declining today.
  • The price was set slightly higher at $ 66,000.
  • It will most likely be a return to prepare for the climb.

Bitcoin price analysis is declining today, as we expect it to correct slightly after rising above $ 65,000. Therefore, Bitcoin / US Dollar needs more time to be able to re-test the peak of the whole period.

Bitcoin Price Analysis: Bitcoin Returns to Over $ 65,000, Is the Market Slowly Retreating Before Continuing Its Uptrend?  1
Thermal map of digital currencies Source: Coin360

The broader market was traded in green in the last 24 hours. Bitcoin grew by 1.38% and Atrium by 2.74%. VeChain and Tron, meanwhile, are among the best performers with an increase of about 7-8%.

Bitcoin price movement in the last 24 hours: Bitcoin reached its highest level at $ 66,000

BTC / USD moved in the range of 63,647.81 to $ 66,281.57, which means average fluctuations in the last 24 hours. Total trading volume increased by only 1.37% to a total of $ 27.73 billion, while the total market value was trading at about $ 1.24 billion, which led to a market dominance of 43.09%.

Bitcoin / US Dollar 4-Hour Chart: Does Bitcoin Look Back at $ 64,000?

In the 4-hour chart, we can see the reversal of the Bitcoin price move backwards, as the cows are tired after setting a slightly higher local peak.

Bitcoin Price Analysis: Bitcoin returns above $ 65,000, will the market return before the trend continues?
4-hour chart BTC / USD. Source: TradingView

Bitcoin price movement saw a downward acceleration last week. After setting a new record high of $ 68,550 on November 9, the second re-test of the highest figure took place a day later, setting a double-digit ceiling.

From there, Bitcoin / US dollars quickly returned to $ 63,000. A further decline was clearly ruled out, leading to a merger of about $ 65,000. Another downtrend followed on November 12, which led to a reversal.

Since then, Bitcoin price action has risen slightly, reaching its lowest level before reaching $ 66,000. There will probably be another slight change in the next 24 hours as the cows prepare for the next major climb.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is declining today because we saw a slightly higher increase overnight, which will probably lead to the next correction. Therefore, BTC / USD is going lower later today to prepare for a rise again over the weekend.

As you wait for more bitcoin to move, read our guide to NFT, Gemini Exchange Review and Sunacrip tokens.