CandleFocus

Bitcoin's Rise Has Surpassed $70,000 Peak

Author: Content Editor
The price of Bitcoin has surpassed the $69,000 resistance level and is approaching the key psychological level of $70,000. However, the bulls have struggled to sustain momentum above $69,000. If they fail to break this level, Bitcoin will likely continue to move sideways. The current upswing could be halted if the bears fall below the moving average lines. The 4-hour chart shows Bitcoin retesting the $70,000 high and buyers maintaining positive momentum. Key resistance levels for Bitcoin are $70,000 and $80,000, while key support levels are $50,000 and $40,000. Last week, Bitcoin was hovering above the critical support level of $65,000. It's important to note that this analysis and forecast are personal opinions and not a recommendation to buy or sell cryptocurrency.

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