Bitcoin’s price has recently experienced a pullback below the $70K level, leaving market participants wondering whether the top is in or not. Yet, there are still several support levels available to hold the market from further decline.
The $67K – $69K level is currently being tested, and if the market breaks back above, a bullish continuation would be probable. However, a rejection can lead to a drop toward the $60K and possibly lower.Looking at the 4-hour timeframe, the price has been declining inside a descending channel. Yet, the market has finally broken the higher boundary of the channel and is currently testing the $67K – $69K zone.
Bitcoin’s price has recently experienced a pullback, dropping below the $70K mark. Analyzing whether this correction has caused the futures market to cool down would be beneficial for investors.
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