Bitcoin / TetherUSShort
Bitcoin's Downward Trend Continues: $62,000 Support in Focus
Bitcoin (BTC) Analysis
Bitcoin grew up to the $66,000 range, but could not cross this range and was accompanied by an increase in supply.
Last week, Bitcoin was struggling with its dynamic resistance, and at the end of the trend, we were faced with the weakness of the buyers.
Now, as you can see, Bitcoin has not managed to cross the $66,000 area and has started a downward trend. We expect that Bitcoin will face an increase in supply after reaching the $68,000 area. Bitcoin's correction trend can be expected to continue until support areas and demand levels at lower prices.
At the moment, the most important level that can be considered as short-term support for Bitcoin is at the price of $62,000.
Bitcoin grew up to the $66,000 range, but could not cross this range and was accompanied by an increase in supply.
Last week, Bitcoin was struggling with its dynamic resistance, and at the end of the trend, we were faced with the weakness of the buyers.
Now, as you can see, Bitcoin has not managed to cross the $66,000 area and has started a downward trend. We expect that Bitcoin will face an increase in supply after reaching the $68,000 area. Bitcoin's correction trend can be expected to continue until support areas and demand levels at lower prices.
At the moment, the most important level that can be considered as short-term support for Bitcoin is at the price of $62,000.
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