Bitcoin (BTC) Price Prediction: BTC Surged by 4% in the Past 24 Hours

After weeks of consolidation right below the $60,000 level, Bitcoin finally made a decisive move, jumping by 4% in the past 24 hours.

Bitcoin price finally experienced a 4% jump in the last 24 hours after stabilizing the price below the $60,000 level for weeks. The breakout ended a long streak of neutral trading in which BTC tested investors' patience. This sudden jump has reactivated the market with Bitcoin leading the way as it breaks through key resistance levels.

Bitcoin price jumps 4% after broad consolidation

After weeks of stabilizing just below the $60,000 level, Bitcoin finally made a decisive move, jumping 4% in the past 24 hours. The break ended a long period of neutral trading where BTC tested the patience of investors. This sudden jump has reactivated the market with Bitcoin leading the way as it breaks through key resistance levels.

BTC/USD 2-hours chart - TradingView

The price of Bitcoin reached 64 thousand 350 dollars while crossing the resistance of 62 thousand dollars

Bitcoin's recent rally saw it break through the important resistance level of $62,000, which marked a significant technical achievement. This move took BTC to a current price of around $64,350, a level not seen since its previous peak. A break above $62,000 is important as it paves the way for Bitcoin to target higher targets and indicates strong buying interest and renewed upside momentum.

Other cryptocurrencies follow Bitcoin as the entire cryptocurrency market gains 4.4%

Bitcoin's impressive performance has had a ripple effect on the entire digital currency market. While BTC rose, other cryptocurrencies followed suit, contributing to a total market gain of 4.4%. This massive rally highlights Bitcoin's influence as the leading digital currency and shows that there is bullish sentiment not only for BTC but for the market as a whole.

Total crypto market cap in USD - TradingView

Bitcoin Price Forecast: Staying above $63,500 indicates continued bullishness

Looking ahead, the key to Bitcoin's continued upward trend lies in its ability to stay above $63,500. If BTC can hold this level, it is expected to remain bullish and have the potential for further gains. This price point is seen as a key support level that, if held, could pave the way for Bitcoin to continue its upward trend.

Higher targets for Bitcoin: $66,000, $68,000 and $70,000 resistance

With Bitcoin's upward momentum showing no signs of slowing down, the next targets to watch out for are $66,000, $68,000, and $70,000. In particular, the $70,000 level is seen as a strong resistance point that could pose a challenge for BTC. However, if Bitcoin can break through this hurdle, it could also pave the way for record highs. These goals represent critical milestones in Bitcoin's current upward trend, and reaching them can further consolidate its market dominance.

BTC/USD 1-day chart - TradingView

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