According to the fund manager, $ 62k for Bitcoin is “a great buying opportunity”

It looks like Bitcoin (BTC) is preparing to retest the previous record high on Thursday. A fund manager described the current situation as “a great buying opportunity”.

1-hour candlestick chart (Bitstamp) of the BTC / USD pair. Source: TradingView

The BTC / USD pair dropped 3.3 percent on Thursday, targeting new support levels, according to data from Cointelegraph Markets Pro and TradingView.

Overview positive

Bitcoin, which rose to almost $ 65,000 on Monday, has begun to consolidate in a new range as enthusiasm for Coinbase’s listing on the Nasdaq has been settled.

The largest cryptocurrency is trading at $ 63,600, $ 900 above the March record level of $ 61,700 as of the time of translation release.

Vailshire Capital Management CEO Jeff Ross said that this region will also be worked on to transform from resistance to support, and if this happens, the BTC / USD pair may continue to rise.

“The ceiling of the previous consolidation wedge is being well tested. The macro view is extremely positive. So is on-chain analysis ” commented.

“My opinion is that if the price closes above the previous ceiling of $ 61,250, it could go higher. Great buying opportunity before the next rally. “

Sales activity slowed down

The order book of the exchanges also confirms that even from aggressive sellers there is a demand that will push Bitcoin up a few thousand dollars.

On Binance, sellers were first listed at $ 65,000. Larger resistances are located at $ 70k and $ 72k.

Buy and sell orders heat map of the BTC / USD pair. Source: Material Indicators

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