With Bitcoin (BTC) currently trading above $60,000, it’s hard to believe that Bitcoin was selling for $49,000 last Monday.
Bitcoin has staged an impressive recovery since then, proving over the past day that it has successfully conquered the psychological $60,000 level.
As Bitcoin heads toward a big close to a remarkable week, leading crypto analyst Rekt Capital shares the next key resistance for Bitcoin.
Bitcoin’s Successful Retest of $60,000
The bulls have been working hard all week to recover Bitcoin’s previous big losses. Monday and Thursday were the days when Bitcoin made the most gains. On Monday, the price shot up from its bottom at $49,000 to over $54,000. On Thursday, BTC climbed from around $55,000 to an all-time high of almost $62,500, which was reached shortly after midnight.
Around $62,000 – $63,000 lies a strong resistance for BTC, which has proven to be too strong for now. After reaching this zone, the BTC price continued to fall. Yesterday afternoon, Bitcoin even briefly dipped below the $60,000 mark.
BTC, however, managed to avoid a further decline and even shot past $61,000 again last night. “It seems that the retest has been successful,” Rekt Capital told its 488,000+ followers on social media platform X. He is referring to the support level of $60,600 that he identified.
Now that Bitcoin has successfully defended this price level, the analyst believes that the next stop around $65,000 seems likely to be reached soon. Then, just above $71,000 is the last hurdle that Bitcoin must overcome to start the bull market, according to Rekt Capital. For now, however, all arrows are pointed at $65,000.
BTC price heading for green week
Despite Bitcoin’s historic drop of over 16% on Monday, the digital currency now appears poised for a green end to the week. With a current price of $60,800, it is now over 4% above the week’s opening price.
It would be hugely bullish if BTC were to close the week above $60,000. This would put the price back into its months-long consolidation range, which required a lot of resilience.
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Source: https://newsbit.nl/bitcoin-koers-houdt-stand-boven-60-000-crypto-analist-deelt-volgend-belangrijk-niveau/
