Bitcoin at $67K can hit new ATH before halving ONLY IF…

Bitcoin’s price recovered slightly as it went above $66k, but the trend might change and BTC could plummet to $60k.price has been in a consolidation phase for weeks under its new ATH. If the latest data is to be believed, then this trend might last longer, and investors might not see BTC reach new highs until the halving.earlier how BTC’s price plummeted under the $66k mark. The drop in price caused $200 million worth of liquidations across the board in the cryptocurrency market.

To check whether a downtrend is inevitable, we then checked Bitcoin’s daily chart. We found that its MACD displayed a bearish crossover. The Money Flow Index registered a downtick, hinting at a further price plummet. Nonetheless, the Bollinger Bands revealed that BTC’s price was in a less volatile zone, which can restrict BTC’s price from falling sharply.

AMBCrypto then checked Hyblock Capital’s data to look for support levels if a BTC downtrend happens. We found that BTC has strong support near the $66k mark. However, considering past incidents, if BTC’s price fails to test that level, then its price might plummet to $60k, where it also has strong support.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.

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