Bitcoin’s price has been going through some major moves throughout the past couple of weeks. The bulls are fighting to reestablish their dominance, staging a convincing recovery above $60K. But will it last?
However, BTC quickly rebounded and climbed back inside the channel, making a fake bearish breakout. With the $60K level also turning into support, the price will likely target the $68K resistance level in the short term.Looking at the 4-hour chart, it is evident that the price has quickly recovered from below the channel and the $60K level. The midline of the descending channel is now the next target.
While Bitcoin’s price has been trading below the $75K level, many market participants have been offloading their coins as they assume that the bull market might be over or a much deeper pullback is probable. However, miners are not in this group.
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