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Bitcoin Price Analysis: BTC re-tests $ 62,000 as support, is it more bullish today?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish today.
  • Lowest price at $ 62,000.
  • BTC / USD is looking to return above $ 65,000 today.

Bitcoin price analysis is bullish today as the new low reached overnight after recovering from yesterday’s high of $ 67,000 yesterday. Therefore, we expect the BTC / USD to rise in the next 24 hours.

Bitcoin Price Analysis: BTC re-tests $ 62,000 as support, is it more bullish today?  1
Encrypted currency heat map Source: Coin360

The overall market traded with different results in the last 24 hours. Bitcoin fell 2.2 percent and Atrium 2.69 percent. Meanwhile, Solana and Teraa are the top actors with an increase of more than 8%.

Bitcoin price movement in the last 24 hours: Bitcoin moves again after reaching its highest level in $ 67,000

BTC / USD traded in the range of $ 62,117.41 – $ 65,967.81, indicating significant volatility in the last 24 hours. Trading volume fell 15.45% to a total of $ 41.87 billion, while the total market value is trading at about $ 1.195 billion, resulting in a market dominance of 45.97%.

4-hour chart BTC / USD: Looking to return above $ 65,000?

In the 4-hour chart, we can see clear support at $ 62.00, indicating that further uptrends will follow.

Bitcoin Price Analysis: BTC re-tests $ 62,000 as support, is it more bullish today?
4-hour chart BTC / USD. Source: TradingView

Bitcoin price performance has been strong over the past few weeks. After accumulating a week above $ 41,000 at the end of September, a higher jump was observed on October 1.

Most ascents continued continuously for several weeks, and several highest and lowest levels were determined along the way. The previous highest record in history was finally reached on Tuesday and reached its highest level the next day.

The new record was set at $ 67,000. From there, the bitcoin price action is repeated and re-tests the previous local resistance at $ 62,000 as a support.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish in the next 24 hours as the new low has risen from the highest level of $ 67,000 to above $ 62,000 after rebuilding. Therefore, we expect BTC / USD to continue to rise and seek further uptrend.

While you wait for the Fantom 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.