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Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?
Bitcoin price failed to trade to a new all-time and started a downside correction from the $73,500 resistance zone. There was a move below the $72,500 and $72,000 support levels. The price dipped below the 50% Fib retracement level of the upward wave from the $65,531 swing low to the $73,575 high. Besides, there was a break below a key bullish trend line with support at $70,000 on the hourly chart of the BTC/USD pair. The price is down over 5% and there was a move below $70,000. Bitcoin price is now trading below $70,000 and the 100 hourly Simple moving average. It is now approaching the $68,500 support zone and the ... (full story)
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- Posted: Nov 1, 2024 3:51am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 157
