Bitcoin Price Analysis

Bitcoin Price Analysis: BTC to regain $60,000 or even new ATH after a price correction

BTC is making huge green candles and the past weekend went unnoticed with no price decline. According to our Bitcoin Price Analysis, the odds are in favor, calling out for a further breakout to regain $60,000 or even $70,000 after a price correction.

The live Bitcoin price today is $56,920.51 with a 24-hour trading volume of $41,333,836,563. Bitcoin is up 0.37% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $1,072,459,288,495.

Bitcoin Price Analysis

Bitcoin Price Analysis: Technical

From 20Jul to 30Jul there was about 45% heavy pump in price and then testing 0.38% of a Fibonacci level we saw the correction. The same scenario is expected to repeat and we should expect a price correction of almost 15% near the $153,000-$151,000 area in the coming week.

The growth is healthy and we see volume and a gradual natural rise in price which makes us believe that if the price breaks above $60,000 without a proper correction, we might see a major price explode to $70,000 and above however, this is not very likely to happen, seeing the Fear and Greed index which has turned all green.

Risk Warning: The Market is volatile, do your own research before trading.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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