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Bitcoin Price Analysis: BTC Ready to Break $ 65,000?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish today.
  • BTC / USD continued to rise yesterday.
  • The $ 65,000 resistance will be tested soon.

Bitcoin price analysis is bullish today as the bullish movement continued to push the market further in the last 24 hours. Therefore, we expect BTC / USD to test $ 65,000 later today, which is likely to lead to further increases.

Bitcoin Price Analysis: BTC Ready to Break $ 65,000?  3
Encrypted currency heat map Source: Coin360

The overall market has been green in the last 24 hours and Bitcoin has grown 2.54%. Atrium rose 3.16 percent, followed by the rest of the top altcoins.

BTC: The stock of all exchanges reached its lowest level

Bitcoin stocks in cryptocurrency exchanges have reached their lowest level in recent weeks. While in July we saw reserves of more than 2.56 million BTC, in early August, when reserves reached 2.45 million BTC, there was a sharp decline.

From there, a further decline was observed in September, reaching an annual low of 2.38 million BTC. The two BTC price declines are related to the uptrends we have seen in recent weeks. Given the record low, does this mean that the price of Bitcoin is ready for the highest annual level?

Bitcoin Price Analysis: BTC Ready to Break $ 65,000?  4

BTC Exchange Reserves Against Price, Source: cryptoquant.com

Bitcoin price movement in the last 24 hours: Bitcoin reached $ 65,000

BTC / USD traded in the range of $ 61,622.93 – $ 64,456.81, which shows an average fluctuation in the last 24 hours. Trading volume increased by 2.11 percent to $ 37.25 billion, while the total market value is trading at about $ 1.214 billion, resulting in market dominance of 47.43 percent.

4-hour chart BTC / USD: Is BTC ready to break $ 65,000?

In the 4-hour chart, we see that the upward movement of the Bitcoin price has brought it below $ 65,000.

Bitcoin Price Analysis: BTC Ready to Break $ 65,000?
4-hour chart BTC / USD. Source: TradingView

The upward trend of the price in the last 24 hours is a much bigger upward result than the beginning of October. From the previous low of $ 41,000, BTC / USD has risen almost 60% to its current high of $ 64,500.

After hovering above the $ 60,000 mark earlier this week, we saw the uptrend gradually return to the lowest level of return, eventually pushing BTC / USD above the local resistance level of $ 62,000. In general, bitcoin pricing should continue for the next 24 hours.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish today as cows continue to push the $ 65,000 mark after retesting for $ 60,000 in support. Therefore, we expect BTC / USD to break $ 65,000 in the next 24 hours.

While you wait for the Fantom to move, read our guide to LTC bags, Gero bags and DeFi bags.

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.