As a seasoned crypto investor with over a decade of experience navigating through cryptocurrency market cycles, I find myself observing the current state of Bitcoin (BTC) with cautious optimism. Over the years, I’ve learned to read between the lines of charts and news headlines, understanding that the crypto market often behaves differently from traditional markets.
The market might need some time to accumulate energy to grow further, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has declined by 1.1% over the last day.
Although there appears to be an inaccurate spike on the hourly Bitcoin chart at $66,160, its trading activity remains close to this support level. If purchasers fail to regain control and the daily closing price stays around the given figure, a potential drop towards the $65,000 range could follow shortly.
For now, on a day-to-day scale, the primary cryptocurrency’s price is quite distant from its significant levels. It would be wise to concentrate on the temporary range around $66,000 at this point in time.
If its breakout occurs, the correction is likely to continue to the $64,000-$65,000 area.
Looking from a midterm perspective, the bullish momentum has stalled following the closing of the last bullish candle. Should current conditions persist, it’s possible that we might approach the $65,000 area in the near future.
Bitcoin is trading at $66,663 at press time.
Read More
- FIS PREDICTION. FIS cryptocurrency
- Tips For Running A Gothic Horror Campaign In D&D
- LUNC PREDICTION. LUNC cryptocurrency
- EUR CAD PREDICTION
- Luma Island: All Mountain Offering Crystal Locations
- OSRS: Best Tasks to Block
- DCU: Who is Jason Momoa’s Lobo?
- XRP PREDICTION. XRP cryptocurrency
- Borderlands 4 Will Cut Back on ‘Toilet Humor’ Says Gearbox
- Predicting Team Asano’s Rumored 2025 Sequel Title
2024-10-23 18:47