Bittime - Bitcoin prices have recently experienced pressure and briefly touched the $60,000 level. However, recently there has been movement showing interest in buying again.
Bitcoin Price (BTC)
After experiencing a 15% increase from the $57,000 level, Bitcoin was again under selling pressure at around $65,000. Post this increase, the price gradually fell back to the $60,000 level.
Recently, there has been renewed buying interest at this price level, which appears to be persisting today.
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BTC/USDT Contract Interest Movement
Since mid-April, there has been a weak correlation between open interest in BTC/USDT contracts and the price of Bitcoin.
This shows limited interest from speculator buyers. This situation reflects uncertainty among investors.
Source: cointribune
The number of liquidations is relatively low. The funding rate of the BTC/USDT contract fluctuates between positive and negative, indicating stable interest and in line with the underlying asset.
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Bitcoin (BTC) Price Prediction
Bitcoin Price Movement Analysis
- If Bitcoin is able to break and stay above the $60,000 level, it is likely that the price will continue to rise towards $64,000.
- If the upward movement continues, the next resistance levels to watch are around $67,000 and $68,000.
- Furthermore, the price could potentially reach $71,000 or higher, signaling an upside of more than 14%.
Correction scenario
- If Bitcoin fails to stay above $60,000, a potential correction to the $57,000 level could occur, where renewed buyer interest is expected to emerge.
- If the downward movement continues, the next important support level is around $54,000.
- Lower still, the $52,000 – $50,000 area is worth watching, which signals a decline of around -19% from current prices.
BTC/IDR Price Today
According to Bittime trade data on May 15, 2024, Bitcoin (BTC) rose 0.80% in the last 24 hours. Currently, BTC is trading at IDR 1,006,175,049.
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Conclusion
Bitcoin shows potential stabilization after experiencing fluctuations between periods of rising and falling prices.
Even though there are weakening indicators, there is also a chance that bullish momentum will return for this crypto asset.
Therefore, it is very important to closely monitor the price reaction to various important levels in order to verify or refute existing hypotheses.
In addition, awareness of potential surprises and changes in direction in each scenario is also required.
Please keep in mind that this analysis is based on purely technical criteria, and crypto asset prices can change quickly influenced by other fundamental factors.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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