Bitcoin (BTC) PriceBTC AnalysisBTCEURBTCGBPbtcusdBTCUSDTCrypto News

Bitcoin Price Analysis: How Bearish Is That BTC Rejected From The $60K Once Again?

Bitcoin’s price dropped by 3% today, as the cryptocurrency falls to a daily low of $55.5K, which is the 0.382 Fib level. After the quick drop, BTC was able to bounce nicely.
Just yesterday, Bitcoin had seen another failed attempt to break the $60k milestone, which brings it to a total of three failed attempts to break the level over the past 3 days.
Despite the decrease, the primary cryptocurrency is still trading above a short-term ascending trend line that has been in play since the beginning of March.
Today, the rebound from $55,465 has allowed Bitcoin to establish a range between $60,000 and $55K, with a strong S/R level of around $57.5K. The coin would now need to break one of the boundaries of this range to dictate the market’s next direction.
There are two bullish signs – first, Bitcoin didn’t break the higher-lows positive trajectory on the hourly chart. Second, today’s drop was followed by a minimal amount of trading volume. On the other hand, the fact that the $60k saw another third failed attempt and a quick rejection after it, might signal a red flag for the bulls.
BTC Price Support and Resistance Levels to Watch
Key Support Levels: $55,465, $53,500, $52,500, $51,540, $50,000.
Key Resistance Levels: $58,355, $60,000, $61,780, $62,900, $62,280.
Looking ahead, the first level of support lies at the short term ascending trend line.This is followed by $55,465 (.382 Fib, today’s low), $53,500 (.5 Fib), $52,500, and $51,540 (.618 Fib). Added support is then expected at $50,000 and $48,870 (.382 Fib).
On the other side, the first level of resistance lies at current …
Story continues on Crypto Potato

Related posts
AA NewsBitcoinBitcoin miningBTCEURBTCGBPbtcusdBTCUSDTCrypto NewsRegulationsSocial

Pakistani Province to Develop Two Hydroelectric Bitcoin Mining Farms

Pakistani province plans to establish two hydroelectric-powered pilot mining farms, hoping to get further exposure to cryptocurrency adoption. Keeping up with the Global Crypto Bullish Trends The Pakistani province of Khyber Pakhtunkhwa is reportedly drafting plans to get into the…
AA Newsblockchain adoptionCrypto NewsUnited States

Crypto Custodian Raises $133 Million in Series C Funding Including BNY Mellon

BNY Mellon and Silicon Valley bank have injected capital amounting to $133 million in Fireblocks’ Series C funding. Fireblocks aims to expand operations and transform the financial world through the new funding. Targets Transformation Of Digital World With New Funding…

Bitcoin Fails At $60K, Lost $3000 In Hours: XRP Soars 8% (Weekend Watch)

After a few days of flirting with the $60,000 line, BTC has failed at breaching the milestone and has dropped to $57,000. Most large-cap alternative coins are also well in the red, except Ripple (XRP), which has surged by 8%…