After being rejected from $72,000 just over a week ago, the $BTC price has come down to test support at $67,000. A bounce here, or perhaps a bit lower at $66,000, could be the next move for bitcoin.
$BTC at strong support
Source: Coingecko/TradingView
In the daily chart above, the $BTC price is still meandering along inside the bull flag, although within the bull flag some levels of support have developed. If $BTC can stay above these supports the likelihood is that the descending trend line will squeeze the price into making a move in one direction or the other.
If the price were to break downwards, there are other levels of support, and if it came to the worst, the price would be unlikely to break downwards through the bottom of the bull flag.
A bounce is coming
From a more bullish perspective, all the short term stochastic RSI indicators have bottomed, and even the daily isn’t far from bottoming. A bounce is going to happen, and whether that’s later on Wednesday
We współpracy z: https://cryptodaily.co.uk/2024/05/bitcoin-btc-comes-down-to-support-bounce-loading
