The post Bitcoin’s Rollercoaster: $60K Revisit Before a Major Breakout? appeared first on Coinpedia Fintech News
Bitcoin has already spent the first week of October under $65,000 trying to make it an Uptober. Rising with a great force from $60,000 on October 3, BTC failed to break the barrier at one of its All Time High zones — $64,000. It almost completed the cup and handle pattern but faced rejection and now suffering in the $62,000 area. Let’s explore what is happening and what we can expect from it in the coming days.
Resistance Failed Bitcoin, Again
In the final phase of the “Cup & Handle” pattern, Bitcoin got a surge of over 2% which brought it to the doors of $64,000. This zone being a highly resistance area and the unavailability of liquidity made BTC retrace its steps. Currently trading at $61,176, it is still trying to capture a support which it requires very much. As we discussed in a previous article dated October 7, when BTC was trading around $6
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