Bitcoin: Will Breaching $63,000 Lead To Next Surge?
Bitcoin is currently trading at $62,255.65, up 2% in the past week. The BTC market fell prey to volatility ahead of this past weekend, but the asset has gained slightly since the start of the week. Analysts are predicting what price point could be the level that separates current prices from a boom. It’s suggested that $63,000 could be the next support level, which means higher highs incoming for the king coin. Bitcoin recently surged during the weekly open, creating two major long liquidation levels due to high leverage. These levels aligned perfectly with last week’s equilibrium (pwEQ). Bitcoin faced resistance as the bid-ask ratio tilted heavily toward the ask side. This led to a retracement, bringing BTC back to critical levels. However, this made the liquidation points and pwEQ key areas for potential price bounces. The bid-ask ratio is now showing a shift toward demand, with more bids appearing within 2% of the current price. This data reveals that entry levels around $62K ...