Bulls return with Bitcoin price almost breaking past $63,000

Bitcoin price prediction is positive today with the bulls rejecting any chances of further downsides on the 24 hour chart.
Bitcoin price prediction is positive today with the bulls rejecting any chances of further downsides on the 24 hour chart.

Bitcoin price prediction summary

  • Bitcoin(BTC) opened the daily chart at a price of $61,982.
  • The coin has already tested a swing high of $62,998 and established support at the $60,000 level.
  • Bitcoin price prediction is positive today, with the bulls rejecting any chances of further downsides.

Bitcoin(BTC) opened the daily chart at a price of $61,982 and has been trading within a tight range for the best part of the 24-hours. The $62,000 level is acting as a minor resistance line preventing the coin from advancing further.

A strong uptrend was witnessed at the close of yesterday’s chart that saw the bulls spike the price to $62,105. The price of Bitcoin dropped below $62,200 by the end of the day and only recovered some losses early this morning after crossing $62,230 on the 4-hour chart. This was followed by a strong rapid ascent near the $63,000 mark.

According to Coin360 heatmap, the general cryptocurrency market is trading with mixed results following a 1.21% ascent in the price of Bitcoin and a 0.62% drop in the price of Ethereum. Gainers include Binance Coin, Ripple, and Cardano, while losers include Solana, Polkadot, and Filecoin.

Bitcoin price action on the 1-day candlesticks

The price of Bitcoin has been trading between a tight range, starting from an intraday low of $61526 to an intraday high of $62,998. Bitcoin’s trading volume spiked by 30% in the last 24-hours to $40.89 billion with a market capitalization of $1.18 trillion.

Bitcoin price prediction
ETH/USDT chart by TradingView

Bitcoin price predictions for the last month have been bullish, with a strong retracement starting above $41,000 just at the close of September. The coin has already tested a swing high of $62,900 and established support at the $60,000 level.

Yesterday’s Bitcoin price action went up to the $62,000 mark once again after the bears had corrected lower to $60K over the weekend. We are hoping for further upsides in the course of the week as the bulls brace up for their next target at $65,000.

Bitcoin price prediction conclusion

Bitcoin price prediction is positive today, with the bulls rejecting any chances of further downsides on the 24-hour chart. Therefore, we can expect the price of Bitcoin to continue rising after almost breaking past the $6,300 mark. As a result, the $65,000 bullish target remains a possibility in the coming hours. 

Check out some of the latest XRP and ETH cryptocurrency price predictions analyzed by The Coinrise team as you wait for the price of Bitcoin to rise.