Bitcoin

Resistance

Swing

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-battles-with-volatility-as-prices-swing" rel="noopener noreferrer nofollow">Bitcoin Battles with Volatility as Prices Swing</a><br></p>
<p style="text-align: justify">The leading <a href="https://en.bitcoinhaber.net/bitcoin-and-ethereum-witness-major-price-drops-as-solana-surges-in-crypto-market" rel="noopener noreferrer nofollow">cryptocurrency</a>, <a href="https://en.bitcoinhaber.net/gustavo-petro-president-of-colombia-shows-interest-in-bitcoin-ownership" rel="noopener noreferrer nofollow">Bitcoin</a>, has recently faced challenges in establishing a clear trend, wavering around the tough $70,000 resistance zone. Latest trends suggest a bearish turnaround, with Bitcoin’s value dipping to about $66,000. Market watchers are closely observing key levels to gauge the currency’s next moves.</p>
<h2 id="recent-decline-in-bitcoin-value">Recent Decline in Bitcoin Value</h2>
<p style="text-align: justify">Bitcoin has seen over a 5% decrease, with its value sliding beneath the $67,500 mark. This downtrend gained momentum after encountering resistance at $70,000. The current trading price is below $68,500 and has fallen under the 100-hour moving average benchmark. Technical patterns on the hourly chart point to a potential further slip towards the $64,000 support area.</p>
<h2 id="bitcoin-s-support-and-resistance-levels-tested">Bitcoin’s Support and Resistance Levels Tested</h2>
<p style="text-align: justify">A notable plunge through the $69,200 support level has led to a steep drop below $68,500. Bitcoin’s price dipped under the $67,000 threshold, with signs of an accelerated decline. The fall reached as low as $66,000, but a recovery seems to be on the horizon. Despite this, the currency’s fate is uncertain if it fails to overcome the resistance near $68,000.</p>
<h3 id="points-to-take-into-account">Points to Take into Account</h3>
<ul>
 <li>Bitcoin’s critical support levels sit at $66,000 and $65,000, with further support at $64,000 and $60,500.</li>
 <li>Resistance levels to watch include $68,000, $68,500, and the pivotal $70,000 mark.</li>
 <li>Hourly MACD and RSI indicators suggest continued selling pressure.</li>
</ul>
<p style="text-align: justify">As Bitcoin struggles to surpass the immediate resistance, the risk of a bearish descent increases. A decline below the immediate $66,000 support could signal a drop to the next support level at $65,000. If the downtrend persists, we might see Bitcoin approaching the $62,500 region, with the possibility of extending losses towards a $60,500 support level in the short term. Nevertheless, if an uptrend gains traction, Bitcoin will have to break through several resistance levels to regain stability.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-battles-with-volatility-as-prices-swing" rel="noopener noreferrer nofollow">Bitcoin Battles with Volatility as Prices Swing</a></h5>

Bitcoin Battles with Volatility as Prices Swing

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