Bitcoin’s range-bound action puts eyes on NEAR, AR, CORE and BONK

) attempted to start a relief rally this week but met with intense selling pressure near $67,000. The largest cryptocurrency by market capitalization is on track to end the week with a minor loss of about 2%.

Contrarily, if the price turns up from the current level or the $59,600 support, it will suggest that bulls remain active at lower levels. The BTC/USDT pair may jump to $67,250 and later to the overhead resistance of $73,777. A break and close above this level will signal the start of the next leg of the uptrend to $84,000.The flattish moving averages and the RSI just below the midpoint suggest a balance between supply and demand.

This optimistic view will be negated in the short term if the price turns down and breaks below $6.60. Such a move will indicate that the bears continue to sell on relief rallies. The pair may then slump to $5.90.The bears tried to pull the price back, but the bulls purchased the dip to the 20-day EMA on April 27. This suggests a change in sentiment from selling on rallies to buying on dips.

Core has taken support at the 20-day EMA on two occasions in the past few days, indicating a positive sentiment.If the price bounces off the current level and breaks above $2.91, it will suggest that the bulls are back in the driver’s seat. The CORE/USDT pair could then pick up momentum and surge toward $4.

Conversely, if the price turns down and breaks below $2.10, the pair may tumble to the strong support at $1.83.The bears tried to yank the price below the moving averages, but the bulls held their ground. This suggests that the bulls are trying to flip the moving averages into support. If the price bounces off the current level and breaks above $0.000030, the BONK/USDT pair will complete an inverse H&S pattern. This bullish setup has a pattern target of $0.000048.

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