Bitcoin price is teetering on the edge!
The cryptocurrency market has been a roller coaster ride, and Bitcoin in particular has experienced massive volatility.
After falling below the $65,000 benchmark, the digital currency is showing signs of consolidation and is poised to attempt a rally towards $67,000.
The recent plunge has tested the confidence of investors. Bitcoin has recently shown a downward trend, breaking through the important support levels of US$68,000 and US$65,000, and once fell to US$64,500. This bearish trend has caused jitters among investors as Bitcoin struggles to stay above these key thresholds.
With the price trading below the key $67,000 level and indicators such as the 100 hourly simple moving average moving against it, Bitcoin’s recovery efforts are evident on the hourly chart with resistance hovering around $67,200.\
A potential reversal depends on a critical resistance breakout, and for those who invest in Bitcoin, the most immediate resistance level is $66,000. If Bitcoin breaks above this and the $67,200 resistance level, it could spark a bullish wave that could lift the price to the $70,000 mark.
Instead, Bitcoin must maintain the $65,000 support area to avoid further depreciation. A break below this level could lead to a retest of the lower support level of $64,000, raising alarms for further potential declines.
Bitcoin’s recent performance highlights the importance of vigilance among market participants. As technical indicators show Bitcoin’s precarious position, the currency’s ability to stay above key support levels and overcome resistance points will be crucial in indicating its near-term direction.
4 coins with great potential, you can pay special attention to them in the bull market!
Although BTC has fallen back, opportunities come from the decline. Looking ahead to the future market, you can pay attention to these four major public chains.
WITH
The current price is $34.4, with a market value of $2.2 billion. The AO parallel computer was launched and the main network will be launched this year.
The concept is novel, the ecosystem is developing, and it is expected to double the value and achieve a leap from storage to public chain!
FTM
The current price is $0.88, with a market value of $2.4 billion. Fantom is about to launch the sub-second transaction network Sonic
On March 28, Fantom announced a new round of financing for Sonic, and the first angel investor to participate was the founder of FraxFinance.
STX
The current price is $3.31, with a market value of $4.7 billion. After a major upgrade in April, there should be another wave of explosion, but the correction is not deep enough!
CHR
The current price is $0.40, with a market value of $320 million. The mainnet launch may be in the second half of the year, and the native CHR token on the Chromia chain may be launched in April!
