Bitcoin prices have just set an all-time high above $69,000, but unfortunately this record did not last long. Currently, Bitcoin is experiencing a fairly deep correction and is at risk of returning to the $60,000 level.
Unsustainable Rise:
Bitcoin touched a record high at $69,218, but this was immediately followed by a drastic decline.
The price is currently below $65,000 and technical indicators point to the potential for further declines.
Support Level Threatened to Break:
The chart shows Bitcoin breaking through the bullish trendline that previously supported the price at $66,000.
Failure to sustain above $62,000 could trigger a drop to the crucial support level at $60,000.
Technical Analysis:
The MACD indicator is moving into the bearish zone, indicating a potential price decline.
The RSI (Relative Strength Index) index for BTC/USD is below level 50, indicating dominant selling momentum.
Conclusion:
Bitcoin's sharp correction after touching a record high is the main highlight. Investors need to be alert to the potential for further downside, especially if the $60,000 support level is breached. Careful analysis and mature investment strategies are very important in market conditions that are volatile and prone to correction.
Disclaimer:
This article is for informational purposes only and should not be considered financial advice.
