CandleFocus Bitcoin Price Analysis: Is BTC Heading Toward $70K or $60K Next?
2024-09-26
Author: Content Editor
Bitcoin's current price level is crucial in determining the mid-term trend of the entire crypto market. The asset has been rallying and breaking key resistance levels, but it has now reached the 200-day moving average and the $64K resistance level. A breakout could lead to higher prices, while a rejection could find support at $60K. The 4-hour chart shows consolidation at the $64K level, and a breakdown could indicate a bearish reversal, while a break higher would result in a rapid rally to $70K. Short-term holders have been selling their holdings during the price consolidation and correction but are now realizing profits again. If demand doesn't match the selling pressure, the market could drop lower.
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