Bitcoin is recovering but still under immense liquidation pressure when writing. As BTC faces headwinds, the zone between $70,000 and $72,000 is proving to be a strong resistance level that must be broken for the wave of higher highs registered in Q1 2024 to continue.
The world’s most valuable coin is trading below $70,000 at press time, bouncing higher from around $67,000. The primary crucial support level to watch at press time is $66,000.
However, if bears are relentless, reversing gains of earlier today, more losses could be on the horizon.
Will Bitcoin Drop To The STH Realized Price And Support At $62,300?
Taking to X, one analyst notes that if the ongoing liquidation of long positions continues, BTC could plummet to the “Short-Term Holder Realized Price” (STH Realized Price) of $62,300.
The trader sees this level as a zone of low long liquidity. Accordingly, it could be a limited support where BTC bulls might find entry to plug losses.
The STH Realized P
We współpracy z: https://bitcoinist.com/bitcoin-support-at-62300-btc-bulls-win-fomc/
