Bitcoin Bull Market Resumed or is the Push to $65K a Trap? (BTC Price Analysis)

After an extended period of sideways consolidation, Bitcoin witnessed a downtrend, breaking below the significant support zone of $59K.

Nevertheless, Bitcoin found significant support at a crucial zone, the 0.618 Fibonacci retracement level, aligned with the vital 100-day moving average at $59K. This region sparked a bullish reversal, raising expectations for a renewed positive trend in the mid-term.Analyzing the 4-hour chart reveals heightened selling pressure after Bitcoin failed to surpass the $68K threshold. This led to a noticeable downtrend, breaking below the lower trendline of the wedge, hovering around $59K.

This metric calculates the average short-term realized price, encompassing transactions occurring within a span of less than 155 days. It is derived by dividing the realized cap by the total coin supply, providing a weighted average price based on what short-term holders paid for their coins.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Bitcoin (BTC) Bull Market Depends on This Major Factor: DetailsBitcoin's next bull market peak influenced by BTC halving cycle
Fuente: Utoday_en - 🏆 295. / 63 Leer más »

Bitcoin dumps 'bull market excess' as daily ETF outflows pass $500MBitcoin bull market correction analysis suggests that current BTC price action is healthier compared to 2021, despite ETF investor nerves.
Fuente: Cointelegraph - 🏆 562. / 51 Leer más »

Bitcoin dips to Bull Market Support Band, liquidates over $230 million in leveraged positionsBitcoin (BTC) price is trading with a bearish bias, recording a steady streak of lower highs as part of a vertical chop.
Fuente: FXStreetNews - 🏆 14. / 72 Leer más »

Chart Veteran Who Predicted Bitcoin’s 2018 Collapse Says the Bull Market May Be OverOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Fuente: CoinDesk - 🏆 291. / 63 Leer más »