đ **Bitcoin Price Watch: Will BTC Break Through or Dip Below $60K?** đ
Hey Bitcoin enthusiasts! đ
Bitcoin's price is currently dancing around some critical levels. On the daily chart, BTC recently bounced back from the $60K support after slipping below $64K and the 200-day moving average. However, this rebound is facing resistance, as shown by yesterdayâs bearish candle. If Bitcoin can't break through the 200-day moving average soon, we might see a dip towards $56K.
On the 4-hour chart, sellers seem to be gaining the upper hand. BTC broke below a tight ascending channel, hinting at a potential decline towards $60K or even lower. But with the RSI around 50%, there's still a slim chance for a rise back to $64K.
On-chain analysis shows miners are selling aggressively since BTC crossed $40K. This continuous selling could flood the market with excess supply, potentially leading to a more significant downtrend.
Stay tuned, Bitcoiners! đ
