Bitcoin has bounced from a strong support zone and is now ready to reach $60k and then $64k eventually.
In this article, we will discuss Bitcoin price analysis along with weekly analysis and news roundup.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
Bitcoin Price Analysis
- Current Price: $63,000
- Market Cap: Approximately $1.23 trillion
- 24-Hour Trading Volume: $45 billion
- Total Supply: 21 million BTC
- Circulating Supply: 19.47 million BTC
The next expected move.
Weekly Price Analysis
- 7-Day Change: +3.15%
- Week Open Price: $61,050
Indicators
- RSI (Relative Strength Index): 68 (indicating potential overbought conditions)
- MACD (Moving Average Convergence Divergence): Bullish crossover, signaling continued upward momentum
- Bollinger Bands: Price approaching the upper band, suggesting possible short-term correction
News Roundup
- Energy Consumption Concerns: Despite criticism, Bitcoin mining continues to rely heavily on renewable energy, with debates ongoing about its environmental impact.
- Investor Sentiment: Largely bullish, with about 89.24% of BTC addresses currently in profit.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
