Bitcoin’s price is currently consolidating below the $70K level, failing to continue its rally and make a higher all-time high. Yet, investors remain optimistic as no worrying signs are surfacing yet.
The $68K resistance level is currently being tested, but the price has not been able to break it to the upside. In case a bullish breakout finally occurs, the market seems likely to set a new all-time high and attack the $80K region. On the other hand, a definitive rejection would result in a deeper decline toward the $60K support zone.Looking at the 4-hour chart, the market has created new short-term support around the $64K mark after rebounding from the level last week.
The Relative Strength Index is also oscillating around the 50% level, indicating that the momentum is neutral and neither a bullish nor a bearish move is more probable. This chart represents the Binance BTC/USDT heatmap. It predicts the price levels at which large-scale liquidation events may occur. So, when Bitcoin reaches areas with yellow color, a liquidation cascade is likely to materialize.
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