Bitcoin (BTC) Price Surges Back Above $70K. Is This Another Bull Trap?

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However, it is worth mentioning that $70,000 is a formidable resistance level that bulls have repeatedly failed to crack. At press time, the top cryptocurrency is changing hands at $69,704 after giving up some gains. showing a sell signal on the four-hour chart. The analyst has predicted"a one to four candlesticks correction" for the largest cryptocurrency. Bitcoin's failure to gain a foothold above the $70,000 level on Apr.

The bulls' latest attempt to crush the $70,000 resistance level comes ahead of the much-anticipated halving event. The event is just 11 days away, and many expect the market to become even more torrid due to growing mainstream media coverage. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.

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