Bitcoin Holds Steady at $62K: Can Bulls Push Past $72K Resistance?

• Following days of extreme volatility, BTC established a ranging zone around $62K.
• An analyst identifies $61K and $72.4K as support and resistance, where a breach would be significant.
• Bitcoin is expected to further crash to $51,200 or soar to a price of $86,000.

Following days of bloodbath in the crypto market, Bitcoin appears to have found a new ranging zone around the $62K threshold. According to CoinMarketCap data, Bitcoin saw a 3.21% drop in the last 24 hours, with its price at $61,800. 

Similarly, Ethereum mirrored Bitcoin’s trajectory, witnessing slight negative gain over the past day, with its price at $3,020. Meanwhile, other prominent digital assets ranking in the top ten, like BNB and Toncoin (TON), have registered paltry positive gains of below 1% at press time.

Amid Bitcoin’s newfound trading zone, prominent market watchers like Ali Martinez are forecasting the market’s next move, considering bearish and bullish scenarios. In a recent post on X, Martinez pointed out Bitcoin’s most crucial support and resistance levels amid consolidating in a parallel channel. He noted that the asset’s crucial ranging point is between $61,000 and $72,4…

The post Bitcoin Holds Steady at $62K: Can Bulls Push Past $72K Resistance? appeared first on Coin Edition.