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Bitcoin Price Analysis: BTC targets $ 60,000 as uptrend increases to $ 59,639

 تاریخ انتشار :
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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is very bullish today.
  • BTC cows are moving towards the $ 60,000 target.
  • The closest resistance is at $ 61,389.
  • The closest support for BTC is found at $ 57,304.

Bitcoin price analysis is too bullish today, as the BTC bull is expected to have $ 60,000. Today, the BTC / USD pair rose from $ 57,304 to $ 59,639 after yesterday’s slow move by BTC as it struggled to stay afloat. After hitting $ 57,000, Bitcoin rebounded, but the leader in cryptocurrencies is reigning supreme as price performance continues to rise. The last time the King’s digital currency was over $ 60,000 was on April 18, 2021, and below $ 50,000 on May 12. Bitcoin recently hit $ 50,000 again on October 5, and Bitcoin has been a pioneer ever since.

1-day price chart BTC / USD: Bitcoin up to the month

The 24-hour price chart for bitcoin price analysis shows a very bullish price performance because the BTC / USD price is trading at $ 59,639 at the time of the press and there is still no weakness in the uptrend. But there are also some rare worrying signs. Despite rising prices and a rise in BTC / USD value over the past 24 hours, trading volume fell 2.55 percent, indicating a weakness in the roots of the king’s throne.

Bitcoin Price Analysis: The Bitcoin target is $ 60,000 as the uptrend increases to $ 59,639
1-day price chart BTC / USD. Source: Tradingview

The volatility is high as the Bollinger Bands show, with the upper $ 62,657 indicating BTC resistance and the lower $ 39,071 indicating the lowest support for the BTC / USD pair. The price is trading near the upper range, and there still seems to be more room for bullish price performance.

Another factor is the Relative Strength Index (RSI), which has shifted to the overbought zone and is in the 71st index just above the neutral zone boundary line. The RSI could go back at any time and show a sell signal that may prevent the king from reaching above $ 60,000 in the coming days.

The moving average (MA) is below $ 56,142, which complements the uptrend, as the short-term MA10, MA20 and MA30 all represent an uptrend.

Bitcoin Price Analysis: Recent Developments and More Technical Signs

The recent 4-hour price chart for Bitcoin price analysis further confirms the uptrend as it shows a steady increase in price since the beginning of today’s session. To date, no signs of a downturn have been observed. But as the 4-hour chart shows, the price has exceeded the upper limit of the Bollinger Bands and the selling pressure could increase at any time, as traders fear a short-term downturn, which makes it difficult for the king to encrypt. Slowly Reach the limit of 60 thousand dollars.

Bitcoin Price Analysis: BTC targets $ 60,000 as uptrend increases to $ 59,639 2
4-hour price chart BTC / USD. Source: Tradingview

The volatility is also increasing in recent hours as the Bollinger Bands diverge after maintaining a narrow channel for the past few days. The uptrend, with $ 59,504 currently below the price level, has become support for the BTC / USD. The RSI movement has also been proven, which indicates the balance between trading activity in the market. Now the deciding factor will be which side overcomes the other to gain more control over price performance.

The overall technical indicators support investment in BTC / USD pair assets, as 15 technical indicators support BTC buying decisions including MA, EMA, MACD Oscillator and moving average of the body. Conversely, only one Momentum technical indicator supports the sale of BTC assets. Therefore, the weight of the majority is on the upside. However, 20 technical indicators are neutral and not pro-market.

Bitcoin Price Analysis: Conclusions

Current bitcoin price analysis shows that uptrend dominates price performance, but uptrend bitcoin cows can as soon as trading volume has decreased in the last 24 hours and the RSI is currently too high in the buying area, Get tired. If the buying trend continues, bitcoin is likely to be in the range of 60,000, but as the RSI shows in the 4-hour chart, the chances of a flat move are currently declining but hopes are still high. If the support of $ 57,304 continues, it will continue to help Bitcoin maintain the $ 59,000 range, which is one step above the previous price level of $ 57,000.

Disclaimer. The information provided is not trading advice. Ramzifa.ir holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.