Bitcoin Could not Overcome the Resistance of $60K
On December 2, the Bulls again tried to push the Bitcoin price above 60,000 thousand, but all attempts were in vain.
BTC / USD bounced back to $57,000 on Thursday, completing a full cycle in 24 hours, according to TradingView.
A day earlier, the pair briefly reached $59,000, but this didn’t last long.
Analyst Michael van de Poppe believes that with regard to Bitcoin, purchases should be monitored in the $ 53-54 thousand zone and the $ 47-50 thousand zone.
A fellow TechDev analyst, observing the Fibonacci levels on the two week’s chart, also described Thursday as another day to scale back.
Meanwhile, on exchanges, open interest remained a source of concern due to its enormous volume compared to price movements.
Data from network analyst firm Glassnode showed that open interest in bitcoin futures recently hit its second-highest level in history, approaching an April record.