{"id":625386,"date":"2024-06-19T10:30:33","date_gmt":"2024-06-19T10:30:33","guid":{"rendered":"https:\/\/wncen.com\/?p=625386"},"modified":"2024-06-19T10:04:40","modified_gmt":"2024-06-19T10:04:40","slug":"bitcoin-battles-at-64515-support-level-can-it-hold-or-will-bears-prevail","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-battles-at-64515-support-level-can-it-hold-or-will-bears-prevail\/","title":{"rendered":"Bitcoin Battles $64,515 Support Level, Can It Hold or Will Bears Prevail?"},"content":{"rendered":"
Bitcoin<\/span><\/a>\u00a0current position at the $64,515 support level has sparked significant interest among traders and analysts. This key threshold is seen as a critical juncture that could dictate the cryptocurrency’s near-term trajectory.\u00a0<\/span>On the one hand, bullish proponents argue that robust fundamentals and renewed investor interest could propel Bitcoin higher. On the other hand, bearish sentiment driven by macroeconomic pressures and regulatory uncertainties suggests a <\/span>potential crash<\/span><\/a>.\u00a0<\/span><\/p>\n With a market capitalization of more than $1.2 trillion and a trading volume of more than $34 billion as of the time of writing, the price of Bitcoin is up by 0.04%, trading at around $65,621 in the last 24 hours. BTC market cap and trading volume are currently down by 0.66%% and 6.05% respectively.<\/span><\/p>\n This analysis delves into weighing the bullish and bearish scenarios in other to determine Bitcoin’s future price actions. Bitcoin’s price on the 4-hour chart is currently making a retracement after a rejection at the $64,515 support level and it’s still trading below the 100-day Simple Moving Average (SMA). Although it seems like the price is moving toward the $66,736 level, this may only be a short-term move as it may drop down again.<\/span><\/p>\nTechnical Analysis: Bitcoin Chart Patterns And Indicators<\/strong><\/h2>\n