The News Crypto -
- BTC price showed a decline of 0.45% in the last 24-hours.
- On May 21, the Bitcoin price hit a one month high of $71,443.
Bitcoin (BTC) witnessed a notable momentum over the last month. The bull-bear confrontation made the price fluctuate within the $62,000-$70,000 range. Over the past 30 days, this largest cryptocurrency teased a short bullish rally to near its all-time high (ATH) facing several market obstacles.
At the time of writing, BTC traded at $68,749, with a decline of 0.45% in the last 24 hours. The daily trading volume stood at $30.99 billion, reflecting an increase of 54.04%. The BTC price recently passed through several resistance levels, reaching around $72,000.
BTC Price Chart (Source: Trading View)
Despite reaching a new weekly high at $71,200, the price dropped down to $69K. And, Bitcoin’s daily RSI which stands at 56.53, inferring that BTC is focusing on the bull run, indicating a price surge and slightly in the overbought zone.
Meanwhile, the Monochrome Bitcoin ETF, managed by Aussie investment manager, MonochromeAsset, is to become Australia’s first spot Bitcoin ETF. It will directly hold Bitcoin and will commence trading on CBOE Australia from today, marking a milestone in the country’s financial scenario.
What is the Nearest Target of BTC?
If the price of BTC remains above $69,000 and continues to increase, the initial key resistance could be at the $70,650 level, following a bullish trend—the next major resistance to be found at $71,240. A big breaking of resistance above this will make the price rise towards the $72,120 level.
Conversely, if Bitcoin fails to move above the $70,650 resistance zone, it could continue to dip, with immediate support in the $68,490 range. The first key support occurs at $67,810, followed by the next major support at $67,120. Further dip might drive the price towards the $66K level.
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This article was originally published on thenewscrypto.com
