Current Bitcoin (BTC) Market Data:
• Price: $60,450
• Market Cap: $1.197 trillion
• Price Change (24h): -$3,234 (-5.08%)
• Market Cap Change (24h): -4.82%
• All-Time High (ATH): $73,738 (March 14, 2024)
• All-Time Low (ATL): $67.81
• Circulating Supply: 19,761,525 BTC
• Max Supply: 21,000,000 BTC
• Total Volume (24h): $48.46 billion
BTC has dropped by 5.08% in the last 24 hours, with a significant pullback from its daily high of $64,131. Market sentiment appears cautious, driven by large sell-offs .
Technical Indicators:
1. Support & Resistance:
• Support Level: $60,000
• Resistance Level: $64,000
2. Key Indicators:
• RSI (Relative Strength Index): Indicating potential oversold conditions near 30.
• MACD (Moving Average Convergence Divergence): Showing a bearish crossover .
3. Price Pattern:
• A reversal pattern could be forming, especially with the current bearish momentum .
Recommendation for BTC (1D Timeframe):
• Short-Term Action: Watch for potential further downside to the $60,000 support. If this level holds, a bounce towards $64,000 could occur.
• Strategy: Look for buy opportunities if RSI continues indicating oversold conditions, or sell if price breaches the $60,000 level.