Bitcoin Price Prediction According to CoinStats’ BTC chart, bulls are attempting a comeback in the cryptocurrency market.
BTCUSD has shown a 2.23% increase in the past 24 hours, as depicted on the CoinStats platform.
On the hourly chart, Bitcoin may have established a local resistance level around $59,516. With most of the daily Average True Range (ATR) covered, significant price movements by day’s end are unlikely.
If the closing price hovers near $59,500, the upward momentum could extend into the following day.
A similar trend is visible on longer time frames, where buyers are trying to regain control following a bearish close yesterday. A successful initiative by buyers could lead to a potential test of the crucial $60,000 mark soon.
Looking at the weekly chart, there’s insufficient momentum for an immediate reversal. Consequently, a sideways trading pattern between $57,000 and $60,000 appears probable.
At present, Bitcoin is priced at $59,027.