CandleFocus Bitcoin (BTC) Price Likely to Experience Brief Correction After Hitting $65,000
2024-09-29
Author: Content Editor
Bitcoin's price recently reached a new high of $65,000, but there are indications that a pullback may be imminent. On-chain analysis suggests a decline in user engagement and a decrease in profitability for holders, both of which are sell signals. Historical data also shows that when holders are in profit at high levels, it often leads to a price decrease. The daily chart shows resistance at $65,838, and if the price drops below $65,000, it could decrease further to $60,348. However, if the price closes above $65,838, it could potentially jump to $68,236.
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