Bitcoin $BTC price action has been volatile in the past 24 hours, but overall, the bulls seem to be gaining momentum. After briefly touching $64,000, BTC pulled back but managed to hold above the critical $63,300 level.
This is a positive sign for long-term investors, as $63,300 is the monthly open. If BTC can close above this level, it could signal a further uptrend.
However, if BTC fails to hold above $63,300, a swift move back to $62,000 is possible. Therefore, it is important to monitor the price action closely in the coming hours and days.
Key Takeaways:
BTC price tested $64,000 but was rejected.
BTC is currently trading above $63,300, the monthly open.
If BTC can close above $63,300, it could signal a further uptrend.
If BTC fails to hold above $63,300, a swift move back to $62,000 is possible.
