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Bitcoin Price Pauses, Eyeing a Fresh Increase: Can Bulls Deliver?
Bitcoin price failed to settle above $65,000 and started a fresh decline. BTC traded below the $64,000 and $63,500 levels. It even broke the $62,500 support. A low was formed at $61,825 and the price is now consolidating losses. There was a minor increase above the $62,250 level. The price tested the 23.6% Fib retracement level of the recent decline from the $64,419 swing high to the $61,825 low. Bitcoin price is now trading below $62,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $62,500 level. There is also a connecting bearish trend line forming with ... (full story)
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- Posted: Oct 9, 2024 12:42am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 142
