Bitcoin Price Attempting To Break The Resistance, Is $60K BTC Price Imminent?

Written by: Sahana Vibhute

December 1, 2021

Bitcoin price is yet again attempting hard to leap towards the $58,000 target in a very short time frame. It’s mandatory for the asset to keep up the uptrend for another couple of days in order to slice through the pivotal zones around $60K. Else the BTC price could keep hovering around similar levels with minimal fluctuations for the further couple of days. 

With the market dropping frequently, the traders obtained a good opprtunity to accumulate more BTC. And hence more traders currently have become the ‘whole bitcoiner’ in no time. As per the data, nearly 0.007% entire population is holding 1 full BTC.

Also Read: Ethereum On the Verge Of A Massive Breakout! Will ETH Price Make It Above $5K?

The asset since the early trading hours witnessed huge volatility with balanced buying and selling pressures. Instead of undergoing a huge rally, yet the asset appears to follow a steady uptrend. However, despite the bulls trying hard to range high above $59,000, bears are also proactive in keeping the price below $58,000. 

Collectively Bitcoin is approaching a key resistance area where-in a breakout is mandatory. While a few hours are left for the monthly trade close, BTC price closing anywhere above $58,000 could be pretty bullish. However, in the short term, the asset exhibits a bearish trend with mounting selling pressure. Yet in the long term, the asset is bullish as it always bounces from the lower support trend line. 

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

Bitcoin Price To Find Its Grounds Around $28k By Mid-February! Here’s What You Need To Know?

Traders have been tired of buying the dip over the past couple of months, yet…

January 22, 2022

This is Why Retail Traders Are Cashing Out, While A Country is Buying the Dip

The stock market is crashing and so the crypto is, no matter whether people accept…

January 22, 2022

Bitcoin’s $100K Dream is Now Long Dead, Major Crash to $30K! Here’s When

The crypto market cap slashed heavily, recording a plunge of more than 11% compared to…

January 22, 2022

8 Businesses That Are Embracing Cryptocurrency More Recently

Although more and more people are getting involved in trading various cryptocurrencies, there are still…

January 22, 2022

This is Why NFTs are Highly Volatile, Popular Tokens Tremble Down Heavily With Double-Digit Loss!

The NFTs quickly gained mainstream attention within a very short time during the recent NFT…

January 21, 2022

Ethereum Traps the Bulls, ETH Price Poised to Hit The High Demand Area Below $2600!

It's a time for treatment yet again for the short traders as the markets maintain…

January 21, 2022