Bitcoin just failed to claim another all-time high when the $BTC price was rejected from $72,600 on Monday. A 4.5% pullback has resulted. Will the price pull back further, or is bitcoin ready to make its next attempt at a new all-time high?
Strong ETF outflow on Monday drags on $BTC price
Perhaps bitcoin needed to draw breathe for its next assault on $73,800, or maybe it was the strong red day for the Bitcoin ETFs on Monday which saw a large outflow from the Grayscale ETF (GBTC) of $303 million, which Blackrock (IBIT) was not able to match. The net outflow for the day was $223 million.
$BTC price returns to confirm top of bull pennant
Source: Coingecko/Trading View
Observing the short term, 4-hourly time frame, what has happened to the $BTC price looks quite straightforward. The rejection from the resistance at $72,600 was a reasonable thing to happen, and the price went all the way back to confirm the top of the breakout triangle.
The $69,000 main support awaited inside
We współpracy z: https://cryptodaily.co.uk/2024/04/bitcoin-btc-rejected-from-73000-next-attempt-inbound
