Bitcoin experienced significant volatility yesterday, briefly dipping to around $65,000, a four-week low, before rebounding quickly to above $68,100, driven by whale buying and short covering. The price has now returned to above $67,200 and is consolidating. The daily chart shows a long upper shadow, indicating that supply pressure above $68,000 remains significant. The bulls and bears have reached a short-term equilibrium in the $66,500-$68,500 range.
The RSI (14) is in the 43-53 range, which is neutral to weak but not yet oversold, indicating that the rebound is a technical correction.
Spot ETFs saw a modest inflow of $69.44 million, and exchange BTC holdings fell to a 7-year low, indicating that whales were accumulating shares during the decline, providing bottom support.
First resistance level: $68,000 - $68,500.
Second resistance (key breakout point): $69,947 - $70,000 (a dense area of short liquidation, and also a round number level; a breakout would stimulate bullish sentiment).
Trading suggestion: 👇
Consider a small long position in the $66,800 - $67,000 area.
A small short position can be attempted around $68,300 - $68,500.
BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD
The RSI (14) is in the 43-53 range, which is neutral to weak but not yet oversold, indicating that the rebound is a technical correction.
Spot ETFs saw a modest inflow of $69.44 million, and exchange BTC holdings fell to a 7-year low, indicating that whales were accumulating shares during the decline, providing bottom support.
First resistance level: $68,000 - $68,500.
Second resistance (key breakout point): $69,947 - $70,000 (a dense area of short liquidation, and also a round number level; a breakout would stimulate bullish sentiment).
Trading suggestion: 👇
Consider a small long position in the $66,800 - $67,000 area.
A small short position can be attempted around $68,300 - $68,500.
BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD 
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.