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⛓️ Crypto⚪ NeutralImportance 5/10Actionable
Bitcoin Price Pullback Tests Bulls — Bounce Attempt Incoming?
🤖AI Summary
Bitcoin price is consolidating above $68,500 after recovering from recent lows, with bulls testing resistance near $70,500-$71,600. The price faces potential downside if it fails to hold above key support levels around $69,280 and $68,000.
Key Takeaways
- →Bitcoin recovered above $68,500 and is trading above the 100 hourly moving average.
- →Price faced rejection near $71,600 and broke below a bullish trend line with support at $70,400.
- →Key resistance levels are at $70,500 and $72,000, with potential upside targets toward $72,650.
- →Immediate support sits at $69,280 and $68,500, with major support at $66,500.
- →Technical indicators show MACD gaining pace in bearish zone while RSI hovers near 50 level.
Read Original →via NewsBTC
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