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.

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