#BTC

Bitcoin saw a substantial decline today, falling by 4.50%. Increased selling pressure linked to German government initiatives and whale manipulation had a role in this.

At the moment, Bitcoin is maintaining support at the critical 60k level. Should it close below this level, we could witness more drops to roughly 58.4k to 56.6k. On the other hand, a closing over 60.6k to 61k would indicate optimism.

Technical research earlier today showed that BTC is currently retesting a key trendline resistance after breaking above it. This is seen on the 1-day chart. Though this process can take some time, a successful retest could open the door for upward momentum.

Because of the continued manipulation of the market, traders are recommended to use caution and to think about employing less leverage. Keep yourself informed and trade securely!

#crypto Analysis