Bittime - Bitcoin is currently under $70K and moving between $67,500 and $68,000. Despite attempts to recover, strong resistance at $68,200 and $68,400 might prevent further upside.
Bitcoin Price Stuck Below $70K
Bitcoin price continues to decline below the $67,500 level. Bitcoin tested the $66,650 region and recently started a recovery wave, where the price traded as low as $66,652 before returning to above $67,500.
Bulls could even push the price back above $68,000, even surpassing the half-Fib retracement level of the move, dropping from a peak of $69,550 to a low of $66,652. Bitcoin's 100 hour moving average and price are currently trading above $68,000.
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There Was A Slight Increase In Bitcoin Prices
On the positive side, the price is facing resistance near the $68,200 level. Additionally, a major ascending channel is forming with resistance at $68,200 on the hourly chart of the BTC/USD pair.
One major resistance may be $68,400, or the 61.8% Fib retracement level, of the move from the $69,550 swing high to the $66,652 low. The next major resistance may be $68,800, and a clear move above the $68,800 resistance would probably see the price rise.
Also Read How To Buy Crypto:
Is There More Downside for BTC?
Bitcoin may start another decline if it fails to rise above the $68,400 resistance zone. The immediate support below is near the $67,500 level. Further losses might send the price towards the support zone around $66,500 in the near term. The first major support is $67,200.
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Conclusion
Bitcoin price is currently stuck below $70K and fluctuating between around $67,500 and $68,000 after testing the $66,650 level. Despite recovery attempts, the price is facing strong resistance around $68,200 and $68,400. If the price fails to break this resistance, there is a possibility that it will fall further towards the support zone around $66,500. However, if the price manages to break through this resistance, it may rise even higher.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read more:
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Bitcoin Correction: Bitcoin Price Approaching Crucial Level
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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