Skip to main content

The next potential support level for BTC

Earlier today an update here on BTC noted a potential longer term level just ahead of 50k. Well, upon further research there is one that is actually closer than that. So, if we take the 2024 low, at 38,509 set in January and the most recent record high, at 73,797, the 50% correction of that entire move is at 56,153. The low seen yesterday was set around 56,620. So as you can see it might be that 56,153 is a support level that has attracted buyers to come back ahead of it. All the time that holds there is potential for a recovery and given the notes here earlier today about BTC and the Dow, we shall see if that plays a part in the price action later on. Bitcoin is currently trading at 57,830
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!