CandleFocus Bitcoin (BTC) Breaks Below Realized Price, Hindering Hopes of $72,000 Rebound
2024-11-03
Author: Content Editor
Bitcoin's dip below its realized price has dampened hopes of a swift rebound to $72,000, signaling mounting selling pressure. Trading below this key threshold suggests a prolonged bearish trend. The large holders' netflow metric also indicates that whales have sold more coins than they purchased recently. The current price sits on the edge of breaking below an ascending channel, with potential support levels at $67,941, $66,575, and $62,826. However, if Bitcoin's realized price drops below its current value, it could signal a trend reversal and a potential rally towards $72,770 and a new all-time high.
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