Bitcoin Price Analysis

Bitcoin price analysis; Where are the significant levels of bitcoin?


Bitcoin traded near the $ 66,982 high before falling and starting its correction. During the fall, support at $ 65,000 and $ 63,250 was broken and Bitcoin fell below these levels.

to the Report According to NewsBitc, the price of Bitcoin also fell below $ 62,000 and the average moving average of 100 hours (SMA100). Sellers tried to stabilize the price at $ 60,000 but buyers prevented this from happening at around $ 59,500. $ 59,610 was recorded as the bottom of the recent trend.

After the increase in the activity of buyers in the market, the price of Bitcoin reached the levels of $ 60,500 and $ 61,000 and crossed the Fibonacci 23.6%. The Fibonacci was formed in the fall from 66,982 to $ 59,610.

$ 61,000 was another resistance that buyers overcame during the recent jump. Currently, despite crossing the $ 62,000 mark, buyers are trying to stabilize Bitcoin above this level. Stabilizing the price above this resistance can pave the way for further jumps.

$ 63,250 is the next most important resistance on the Bitcoin price chart. This level is close to the 50% Fibonacci level created in the recent fall.

As the price of bitcoin rises, the probability of reaching $ 64,000 increases. After this level, $ 65,000 will act as a resistance.

Bitcoin price analysis;  Where are the significant levels of bitcoin?

If Bitcoin fails to cross $ 63,250, there will be room for decline and correction. In that case, $ 61,200 would be the first support.

$ 60,000 will be the most important support for Bitcoin. Breaking this support could lead to a fall to the $ 58,000 support area.

The MACD is rising in the one-hour timeframe, and the Relative Strength Index (RSI) is above 50.

As mentioned earlier, $ 61,200 and $ 60,000 are the most important support for the Bitcoin price. $ 62,000, $ 62,500 and $ 63,250 are also resistances that buyers want to stabilize above.

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