 ▲ Bitcoin (BTC) ©Coin Leaders |
On June 24 (local time), the price of cryptocurrency leader Bitcoin (BTC) rebounded to over $62,000 in 24 hours after hitting its lowest point in six weeks.
According to Cointelegraph, popular trader Jelle said that the $60,000 range acted as support and predicted that if a lower point is formed in a lower period, there is a possibility of the price rising to $63,500.
He went on to say that despite the recent decline, the oversold condition indicated by the Relative Strength Index (RSI) suggests that Bitcoin could see a steady rebound reminiscent of its performance when it was trading at $26,000 in August 2023. He emphasized that the daily RSI has not been this low in almost a year, which generally suggests significant upside potential.
In addition, Robert Kiyosaki, author of 'Rich Dad, Poor Dad', also weighed in on Bitcoin's current market structure. He saw this decline as a buying opportunity and advised those who are afraid of a plunge to sell and maintain their positions. advised.
According to data from Cointelegraph Market Pro and TradingView, Bitcoin is attempting to stabilize at the $62,000 level. Analysts are emphasizing the importance of the $60,000-$64,000 support line and warning that breaking it could lead to a larger correction.
Popular trader Aksel Kibar pointed out that the upper limit of the ascending parallel channel, $60,000, is forming a bullish trend. However, if this support line is broken below, the outlook will change from bullish to bearish, resulting in a double top ( He added that a double top) pattern can be formed.
According to CoinMarketCap, as of 9:53 am on the 26th (Korean time), Bitcoin is trading at $61,743, up 2.02% from 24 hours ago.
