Coinidol.com: Bitcoin Continues Its Oscillation Above $60,000

The Bitcoin (BTC) price has entered a range-bound movement after finding support above the $60,000 level.

BTC Price Long-Term Prediction: Ranging

However, if the largest cryptocurrency declines from its recent high, it will continue to trade above its critical support. Bitcoin is currently trading at $66,470.

Technical indicators 

Key supply zones: $120,000, $125,000, $130,000

Key demand zones: $80,000, $75,000, $70,000

Bitcoin Price Indicator Analysis

However, the moving average lines are slanting horizontally, indicating a sideways trend on the 4-hour chart. The 21-day SMA exceeds the 50-day SMA, signalling an upward correction.

What Is the Next Move for Bitcoin?

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.