As a seasoned crypto investor with several years of experience under my belt, I’ve seen my fair share of market fluctuations and trends. Today, according to CoinMarketCap, the situation remains largely unchanged for Bitcoin (BTC) since yesterday. The hourly chart shows a 1.76% drop in price over the last 24 hours, with the rate currently bouncing back from the local support level of $63,550.
The situation has not changed much since yesterday, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has fallen by 1.76% over the last 24 hours.
On the hourly chart, Bitcoin’s price has rebounded from its recent support level at $63,550 and is currently experiencing an uptrend. If buyers manage to sustain this momentum, the price could climb further, potentially reaching the resistance level of $64,367 before the day ends.
Regarding the longer-term perspective, it’s crucial to keep an eye on the significant level at $65,702. Should the price stay above this point, neither side holds clear control; the market remains indecisive.
It’s more plausible that Bitcoin will continue trading laterally between $63,000 and $65,000 throughout the remainder of the week.
As a crypto investor looking at the mid-term outlook, I see Bitcoin‘s rate hovering around the middle of a broad range. This range is defined by the support level at $52,884 and the resistance level at $73,794. At this moment, it’s unlikely that we’ll experience any significant price swings in the near future.
Bitcoin is trading at $63,972 at press time.
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2024-07-19 18:09