On Tuesday, Bitcoin consolidated its recent gain as traders anticipated that listing a futures-based exchange-traded fund could pose investment flows into cryptocurrencies.
The world’s biggest cryptocurrency escalated 1.63% to $62,264.31 with a 24-hour change of $999.48.
As of writing, Bitcoin stands with a market capitalization of $1.17 trillion. Also, it has a 24-hour volume of $2.16 billion with a $59,935.00 low and $62,962.25 high.
In early trading, it stayed above the $60,000.00 level. Consequently, it traded in a positive zone and climbed beyond the $62,000.00 level before a downside correction.
Then, a high formed along with the $62,885.00 zone. It then followed with a decline under the $62,000.00 and $61,200.00 levels.
Nevertheless, the virtual currency still sat near the $59,200.00 and the 100 hourly simple moving average.
Moreover, the BTC crossed the $61,200.00 price. Correspondingly, it struggled over the $62,200.00.
Subsequently, A high formed close to $62,672.00. Then, it faced another decline and traded as low as $59,900.00.
Accordingly, Bitcoin exceeded the 50.00% Fibonacci retracement level of the downtrend motion from the $62,672.00 high to $59,900 low.
Remarkably, a primary bullish trend line formed with support near $61,000.00 on the hourly chart against the US dollar.
Additionally, it is now trading within the 76.40% Fibonacci retracement level of the downtrend motion from the $62,672 high to $59,900 low.
On the positive side, Bitcoin’s initial resistance is near $62,000.00. Significantly, a clear break above the first key resistance of $62,200.00 could further increase its price and ignite the pace towards the $65,000.00 zone.
Crypto Mixed as Bitcoin Up
Similarly, Ethereum edged up 0.45% to $3,794.27. It holds a market capitalization of $445.49 billion and a 24-hour volume of $1.07 billion.
At the same time, Litecoin surged 3.33% to $188.11. It has a market capitalization of $12.94 billion and a 24-hour volume of $77.91 billion.
Likewise, Bitcoin Cash improved 0.90% to $614.38 with a market capitalization of $11.60 billion and a 24-hour volume of $22.45 billion.
Conversely, Ripple’s XRP increased 0.06% to $1.09. It has a market capitalization of $108.81 billion and a 24-hour volume of $3.64 billion.
Then, Cardano plummeted 0.24% to $2.13. It has a market capitalization of $69.06 billion and a 24-hour volume of $127.69 million.
Also, Polkadot plunged 1.94% to $41.06 with a market capitalization of $45.31 billion and a 24-hour volume of $1.35 billion.
