Bitcoin (BTC) is currently on the cusp of a significant market movement with a resistance level at $64k. CryptoBusy, a renowned market analyst, has observed the consolidation trend and hints at the possibility for Bitcoin to reach the $66,000 mark.
BTC experienced a significant milestone on Monday, soaring past $64,000, marking its highest point since the end of 2021. Early in the day, BTC reached $64,285, showcasing its strongest performance in over two years, and concluded the trading session with a 2% increase, stabilizing at $63,850. This surge brings BTC close to its all-time high of $68,999.99, which was recorded in November 2021. Throughout the year, BTC has witnessed a remarkable 50% increase in value, with most of this growth occurring in recent weeks.
Over the last five days, BTC’s value has remained within the $61,000 to $64,000 range. The latest data reveals that BTC’s price is $63,376, reflecting a more than 2% growth over the past 24 hours. Consistently hovering around the $63,000 mark, BTC displays a strong potential for further upward movement.
The monthly surge exceeded 48%, with a weekly boost of 23%. As ever, BTC holds the top position on CoinMarketCap, boasting a live market capitalization of $1.2 trillion. There are 19,644,062 BTC coins in circulation out of a total supply of 21,000,000 BTC coins. The trading volume over the last 24 hours amounted to $34,821,294,531.
Technical analysis of BTC indicates a bullish outlook. The Moving Average Convergence Divergence (MACD) indicator presents a positive outlook, with its line crossing above the signal line. This is accompanied by a green histogram, indicating a rise in purchasing momentum. The Relative Strength Index (RSI) for the daily chart sits just above 80, suggesting that BTC is currently overbought, yet it also implies strong buying interest.
