Bitcoin price sees oversold bounce to $62K but will it hold?
Bitcoin price snaps back above $62,000, but technical traders are unsure whether the BTC downtrend is over.
Bitcoin (BTC) price hit a six-week low on June 24 before buyers stepped in to send the price back above $62,000 less than 24 hours later.
Analyzing the current market structure, popular trader Jelle acknowledged that some buyer interest was returning at the lows, as the $60,000 zone acted as support.
“If #Bitcoin can lock in a lower-timeframe higher low today, I think we run it back to $63,500 before the week is out,” the analyst wrote in a June 25 post on x.
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Author: Nancy Lubale
