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What is Bitcoin (BTC) Right Now?
Bitcoin is currently trading around the $62,500 mark and is looking quite bullish in the immediate short term. We did see a small correction for Bitcoin over the weekend and can now expect it to make another move up towards the all-time high. The resistance level we are watching for BTC right now is the $63,600 mark that has been keeping the price down for the last two days.
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Analyzing the Charts
The first level we will be watching for Bitcoin on the smaller timeframes is the $62,200 mark. This level has acted as support previously and we must hold it to stay bullish in the immediate short term.
If we bounce back from this support nicely it is likely that we will break the resistance at $63,600 and see another breakout. Once we get above the resistance level the next region we will be looking for is around $65,600.
On the other hand, if we fail to hold the support of $62,600, the next area we would be watching for Bitcoin would be around the $60,000 region.
However, it is likely that we will see a move towards the upside, and Bitcoin is looking quite bullish at the moment.
Conclusion: Final Verdict on Bitcoin (BTC)
Bitcoin is still looking quite bullish and we can expect it to rise towards higher targets in the coming weeks. Right now we can see that BTC is also looking bullish in the short term and if it gets above $63,600 we will be interested in putting a long trade on it. We could also see some sideways movement for BTC in the coming weeks as the alt season is also getting started.
How to Trade Bitcoin (BTC)?
To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top Bitcoin Exchanges To Trade With.
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