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: 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.