What's in this article
The daily chart shows clearly the path of Bitcoin to 53000 dollars as a part of a major correction after making an all-time high.
The Bitcoin price today is $57,418.96 USD with a 24-hour trading volume of $33,371,435,641 USD. Bitcoin is down 3.59% in the last 24 hours, with a live market cap of $1,084,089,684,744 USD. It has a circulating supply of 18,880,343 BTC coins.
Bitcoin to 53000 dollars : Analysis
Bitcoin dropped to $55640 on November 19, 2021, and then yesterday it rose back to the $60,000 mark. However, due to an increased selling volume, it could not hold the price level at fib 0.786. The volumes are continuously dropping, we mentioned the bearish divergence when Bitcoin was at above $65,000 on November 15, 2021. The uptrend is exhausting and we still believe Bitcoin price will rest at $53,000 somewhere between fib 1.4 and 1.618.