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Bitcoin’s Upside Momentum Fading: What’s Next for BTC?
Bitcoin price extended its downside correction below the $68,000 level. BTC tested the $67,000 zone and recently started a recovery wave. The price traded as low as $67,099 before it climbed back above $68,000. There was a break above a key bearish trend line with resistance at $67,800 on the hourly chart of the BTC/USD pair. The pair climbed above the $68,500 and $69,000 levels. However, it faced resistance near the $69,500 level. A high was formed at $69,548 before the upside faded. There was a drop below the $69,000 level. The price declined below the 50% Fib retracement level of the upward move from the $67,099 ... (full story)
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- Posted: May 30, 2024 11:06pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 262
