Bitcoin price started a strong increase above $68,500. BTC even tested $70,000, but post-fed there was a major bearish reaction.
Bitcoin started another decline from the $70,000 resistance zone.
The price is trading below $68,550 and the 100 hourly Simple moving average.
There is a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could recover but the upsides might be limited above the $68,550 level.
Bitcoin Price Dips Again
Bitcoin price started a steady increase above the $68,500 resistance zone. BTC even cleared the $69,200 resistance zone. However, after the Fed kept the rates at 5.5%, there was a strong bearish reaction.
The price dipped below the $68,800 and $68,500 levels. The price tested the $67,200 zone. A low was formed at $67,148 and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $69,969 swing high to the $67,148 low.
We współpracy z: https://www.newsbtc.com/analysis/btc/bitcoin-price-rejects-70k-2/
