Bitcoin

Coin

<ul class="news-points">
 <li>Bitcoin has major support at the $62,000 price level.</li>
 <li>If BTC fails to hold $62K, $51,500 is the next area of major demand and support.</li>
 <li>To resume the bull run, Bitcoin needs to break above $66,250.</li>
</ul>
Bitcoin (BTC), the world’s largest digital asset, has a major support at the $62K price level as per the data provided by UTXO Realized Price Distribution (URPD), and it is imperative for the leading cryptocurrency to hold above this price region.
As per a<a href="https://twitter.com/ali_charts/status/1780370335273005138" target="_blank" rel="noopener noreferrer nofollow"> post</a> by technical analyst @ali_charts on social media platform X (formerly known as Twitter), if Bitcoin holds above $62,000 and breaks above the $66,250 price level, the bull run will resume.&nbsp;
However, if the digital asset fails to hold above $62,000, it might retest the nearest major support at $51,500, which is another major demand area for Bitcoin. For the digital asset to continue making higher highs, it is crucial to reclaim the $66,250 mark.
According to the<a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow"> data</a> from CoinMarketCap, the price of BTC as of 1:18 a.m. on Wednesday, stands at $64,429, much higher than its nearest support of $62,000. Further, the market capitalization of the …
The post <a href="https://coinedition.com/bitcoin-faces-vital-support-at-62k-will-the-bull-run-resume/" rel="noopener noreferrer nofollow">Bitcoin Faces Vital Support at $62K, Will the Bull Run Resume?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Faces Vital Support at $62K, Will the Bull Run Resume?

Coin Edition

Other articles published on Apr 17, 2024

Bitcoin Price Struggles to Recover: Analysts Assess the Current Situation and the Possibility of ...

Aark Raises $6M Funding to Accelerate LRT Liquidity Integration for High Leverage Trading

Pepe Coin Price Eyes Key Breakout Ahead of Bitcoin Halving

Coinbase gets $24.5 Million Ethereum transfer from Celsius Network

Shiba Inu’s Market Dynamics and Price Forecast

ApeCoin Q1 2024 Performance: Market Cap And Token Price Skyrocket – Key Findings Inside

Join our free newsletter for daily crypto updates!