As a seasoned researcher with years of experience in the cryptocurrency market, I’ve seen more than my fair share of price fluctuations and market trends. Today, looking at the BTC/USD chart, it appears that we’re in for a bit of a rollercoaster ride.
Buyers have failed to hold the initiative until the end of the week, according to CoinMarketCap.
BTC/USD
Bitcoin’s price increased by about 0.4% compared to yesterday. In the past seven days, it has climbed up by approximately 10.6%.
Although there was a small increase today, the price of Bitcoin is currently challenging its current support level at around $59,903. If it manages to breach this level, it could potentially trigger a further correction towards the $59,500 region.
On the bigger time frame, one should pay attention to the nearest level of $60,670.
If the current rate remains lower than the given figure, traders might observe a readjustment towards the $59,000 range over the next several days.
From my perspective as a researcher, as we approach the close of this week’s candle, it seems we are heading towards the green zone. Yet, I anticipate that significant upward movement might not materialize at this time due to insufficient accumulation of energy. Instead, it appears that sideways trading within the range of $58,000 to $61,000 is more probable for the near future.
Bitcoin is trading at $60,163 at press time.
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2024-09-15 18:44