In a recent price movement, Bitcoin encountered resistance at $71,200 on a 4-hour chart timeframe. This rejection indicates that there were more sellers than buyers at that price point, preventing Bitcoin from breaking through.
However, there's some positive news for bulls. The world's leading cryptocurrency appears to have found support at $65,200. This suggests that buyers emerged at this level, preventing a steeper decline. Analysts are now expecting Bitcoin to potentially touch $68,755 in the near future. It's important to note that this is just a prediction, and the market could move in either direction.
It will be interesting to see if Bitcoin can build on this support and make another attempt to break through the $71,200 resistance level. If successful, this could signal a continuation of the uptrend. Conversely, a drop below $65,200 could indicate further weakness in the short term.
However, there's some positive news for bulls. The world's leading cryptocurrency appears to have found support at $65,200. This suggests that buyers emerged at this level, preventing a steeper decline. Analysts are now expecting Bitcoin to potentially touch $68,755 in the near future. It's important to note that this is just a prediction, and the market could move in either direction.
It will be interesting to see if Bitcoin can build on this support and make another attempt to break through the $71,200 resistance level. If successful, this could signal a continuation of the uptrend. Conversely, a drop below $65,200 could indicate further weakness in the short term.