TL; DR failure
- Bitcoin price analysis is bullish today.
- BTC / USD reached $ 60,000 again.
- The buying pressure is likely to increase later today.
Bitcoin price analysis is bullish today as we expect the $ 60,000 level to be maintained. However, the downward trend continues, which means that we can see a decline in the price of bitcoin / dollar in the coming hours.
The crypto market has been trading mostly in the red for the past 24 hours. Market leaders Bitcoin and Atrium lost 2.02% and 3.08%, respectively. Meanwhile, Shiba Inu (SHIB) is the market leader with an increase of almost 14%.
Bitcoin price movement in the last 24 hours: Bitcoin slowly reached $ 60,000 again
BTC / USD traded in the range of 60209.26 to 61965.93 dollars, indicating low fluctuations in the past 24 hours. Trading volume fell 5.51 percent to a total of $ 30.64 billion, while the total market value was about $ 1.124 trillion, leading to a market dominance of 42.86 percent.
Bitcoin / Dollar 4-Hour Chart: Will Bitcoin be reversed today?
In the 4-hour chart, we can see a downward trend that continues to lower the price of bitcoin, meaning that the $ 60,000 mark is being tested again today.
Bitcoin price movements have seen a decline in recent weeks. After the new high was set at $ 67,000, BTC / USD was reversed and reached $ 58,000 in a few days.
It stabilized above $ 60,000 late last week, leading to a slightly higher increase to $ 64,000 on Tuesday. Since then, Bitcoin has slowly returned to its previous low of $ 60,000.
We will most likely see support maintained, meaning it should be followed by more uptrend. However, if the $ 60,000 support is broken, the price of Bitcoin will probably go to the next support at $ 58,000.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as we expect $ 60,000 support to be maintained later today. Therefore, Bitcoin / US Dollar should see a return to the top within the next 24 hours
As you wait for more bitcoin to move, read our guide to NFT, Gemini Exchange Review and Sunacrip tokens.