Bitcoin Price Rejected Above $70K, Bulls Lose Grip on Momentum
Bitcoin price started a decent increase above the $68,800 zone. BTC is trimming gains and might revisit the $67,500 support zone. Bitcoin gained pace for a move above the $68,500 and $68,800 levels. The price is trading above $68,000 and the 100 hourly simple moving average. There is a bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $69,250 and $69,500 levels. Bitcoin Price Trims Gains Bitcoin price managed to climb higher above the $68,000 resistance zone. BTC gained pace....
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The Bitcoin price broke below $70,000 over the weekend, effectively erasing the gains from the previous week. This move puts the cryptocurrency in a perilous position as the bulls are now hard-pressed to find another major support or risk the decline going deeper from here. According to one analyst, Bitcoin bulls will have to reclaim and hold $69,000 with momentum in order to trigger another recovery trend. Why Bitcoin Bulls Must Hold $69,000 According to crypto analyst Tealstreet, the bulls will need to defend $69,000 to prevent the Bitcoin price from falling lower. The reason for this is....
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