The analysis of Bitcoin (BTC) shows a volatile performance recently. Here are some key points ¹:
- *Current Price*: The price of Bitcoin is approximately $116,671.73, with a decrease of 2.76% from the previous day.
- *Market Capitalization*: The market capitalization of Bitcoin is estimated at around $2.44 trillion, making it one of the largest cryptocurrencies in the world.
- *Overall Trend*: According to a technical analysis conducted on the 4-hour timeframe, the overall trend for Bitcoin is bearish, with sellers dominating the market. However, there are price action signals indicating a potential bullish rebound.
- *Support and Resistance Levels*: The $97,715 level is considered an important support for Bitcoin, while the $105,571 level is regarded as a major resistance.
- *Forecast*: If the downward trendline is broken and sustained above, we may see a gradual rise towards the following targets: $105,571 as the first target, and $107,411 as the second target.
It is important to note that the cryptocurrency market is extremely volatile, and forecasts can change rapidly. It is advisable to review technical analyses and economic indicators before making any investment decisions.
*Reliable Sources for Analyses*:
- Finnhub website
- TradingView website
- FxNewsToday website
