Bitcoin Price Analysis: BTC Falls Below $61,000, Here’s the Next Target

Crypto Blog

Bitcoin’s rejection at $66K and the break below the 200-day moving average suggest that bearish sentiment is gaining strength.

However, upon reaching the $66K resistance zone, substantial selling pressure emerged, halting the uptrend. This area has historically served as a robust multi-month resistance, and Bitcoin’s failure to surpass it resulted in a significant rejection. This selling pressure led to a sharp rejection, resulting in a 10% decline. The presence of sellers near the $66K level indicates that it remains a formidable barrier, acting as a key resistance level in the broader market outlook.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Crypto_Potato /  🏆 568. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Price Analysis: BTC Dips to $58K in Anticipation of This Week’s Fed Rate DecissionCrypto Blog
Read more »

Bitcoin Price Analysis: The Fed Cut Rates, Now What’s Next for BTC?Crypto Blog
Read more »

Bitcoin Price Analysis: Is BTC Heading Toward $70K or $60K Next?Crypto Blog
Read more »

BTC Price Analysis: Is Bitcoin Targeting $70K in the Short Term?Crypto Blog
Read more »

Bitcoin Price Analysis: The Reason Behind BTC’s Crash to $60K TodayCrypto Blog
Read more »

BTC Price Analysis: Can Bears Push Bitcoin Below $60,000 Soon?Crypto Blog
Read more »