Bitcoin’s price has been consolidating over the last few weeks after a failure to break above the $75K mark. Yet, things might be about to change.
A breakout above the $68K level might likely induce a continuation. On the other hand, a breakdown of the $60K level can be catastrophic, as the price can drop as low as $52K in a short period.Looking at the 4-hour chart, the price structure shifted after retesting the $60K support zone. The market is making higher highs and lows, pushing toward the $68K resistance level.
While Bitcoin’s price is showing some signs of recovery, market participants are wondering whether the bull market will continue. Some might even be searching for the reason why the price rally stopped at $75K. This chart can give some answers.
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