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Bitcoin Price Analysis: BTC Tests $ 60,000 as Re-Support, Will It Continue?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish today.
  • BTC / USD fell to $ 60,000 yesterday.
  • The accumulation took place in the last 24 hours.

Bitcoin price analysis is bullish today as the $ 60,000 mark prevented further decline after correction from the new record high of $ 67,000. Therefore, we expect BTC / USD to reverse and try to move up again in the next 24 hours.

Bitcoin Price Analysis: BTC Tests $ 60,000 as Re-Support, Will It Continue?  1
Encrypted currency heat map Source: Coin360

The digital currency market has traded with different results over the past 24 hours. Bitcoin lost 1.86 percent, while Atrium grew only 0.1 percent with a reversal. Meanwhile, Shiba Inu (SHIB) with 48% increase, cows set new records for coins.

Bitcoin price movement in the last 24 hours: Bitcoin increases to $ 60,000

BTC / USD traded in the range of $ 60,305.13 – $ 61,743.88, indicating low volatility in the last 24 hours. Trading volume fell 33.55 percent to a total of $ 23.5 billion, with a total market value of $ 1.14 trillion, resulting in a 45.28 percent market dominance.

Bitcoin / Dollar 4-Hour Chart: Does Bitcoin Look to Move Up Again?

In the 4-hour chart, we can see the price of $ 60,000, which still keeps the bitcoin price trend lower, which shows that we can see the bitcoin price increase later today.

Bitcoin Price Analysis: BTC Tests $ 60,000 as Re-Support, Will It Continue?
4-hour chart BTC / USD. Source: TradingView

Bitcoin price performance has been strong over the past month. After forming a strong stabilization at $ 41,000 at the end of September, a significantly higher jump was observed on October 1.

In the weeks that followed, a series of highs and lows followed until the previous record high of $ 65,000 was reached on October 20th. After a short break, BTC / USD peaked, setting a new all-time high of $ 67,000.

Since then, the price of bitcoin has sought to recoup some of its profits. On Thursday, Bitcoin quickly reached $ 62,000 in the previous resistance, and fell further after the $ 60,000 mark yesterday.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish as support fell below $ 62,000 to $ 60,000 yesterday after another slight decline. So, as long as the $ 60,000 mark is maintained, we expect it to rise further.

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.