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  • Bitcoin Price Analysis: Bitcoin stabilizes below $ 62,000, another high is slowly set?

Bitcoin Price Analysis: Bitcoin stabilizes below $ 62,000, another high is slowly set?

 تاریخ انتشار :
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  Bitcoin

TL; DR failed

  • Bitcoin price analysis shows that a downtrend should be followed.
  • BTC / USD accumulates below $ 62,000.
  • The next target is a drop to $ 56,000.

Bitcoin price analysis is declining today, as with yesterday’s improvement, another lower price was recorded at around $ 62,000. Therefore, we expect another downward pressure, with the next target at $ 56,000.

Bitcoin Price Analysis: Bitcoin stabilizes below $ 62,000, another high is set slowly?  1
Thermal map of digital currencies. Source: Coin360

The whole market traded with different results in the last 24 hours. Bitcoin lost 0.15 percent, while Atrium grew 3.7 percent. Meanwhile, SHIB Ino has suffered a loss of 11.7 percent.

Bitcoin price movement in the last 24 hours: Bitcoin returned to $ 62,000, the merger formed below

BTC / USD traded in the range of 58,206.92 to $ 62,128.63, which shows the average amount of fluctuations in the last 24 hours. Trading volume increased by 0.72% to a total of $ 41 billion, while the total market value of trades is about $ 1.152 trillion, which led to a market dominance of 44.15%.

4-hour Bitcoin / Dollar Chart: Will Bitcoin go down later today?

In the 4-hour chart, we can see a stabilization below $ 62,000, as the uptrend is further reversed, indicating a return to the downtrend should be followed later today.

Bitcoin Price Analysis: Bitcoin stabilizes below $ 62,000, another higher set?
4-hour chart BTC / USD. Source: TradingView

Bitcoin price movements have seen a downward return over the past week. After the strong first weeks of October, the highest new price in history on October 20 reached $ 67,000.

However, after a strong return to $ 60,000, no further climb can be reached because the highest was set at $ 64,000. Hence, BTC / USD on Tuesday saw another decline, this time below $ 58,000.

Yesterday, part of the loss was offset by the price of Bitcoin falling to $ 62,000. Since then, the BTC / USD has stabilized below resistance, probably because the bears are preparing to pull the market even lower.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is down today because it was below $ 62,000 after the cows failed to move higher yesterday. Therefore, we expect the bitcoin / dollar to fall again in the next 24 hours.

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 an investment decision.