#BnbAth #Bitcoin's Recent Dip: A Temporary Hiccup or a Window for Investment? ๐๐ผ๐ฐ
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Bitcoin witnessed a pullback after testing the $71,650 resistance, prompting discussions on whether it's a setback or an opportunity for bargain hunting. Currently consolidating, BTC might retrace towards the $69,500 support level.
Initially, Bitcoin rallied past $70,000, crossing key levels, but faced resistance near $71,650. This led to a corrective phase, breaking below the $70,650 support line. Despite testing $70,200, Bitcoin maintains its position above $70,000 and the 100 hourly SMA. Resistance looms around $70,800, with major hurdles at $71,200 and $71,650.
If Bitcoin fails to breach the $71,200 resistance, downside pressure may persist. Support levels lie at $70,000 and $69,500, with a potential dip towards $68,500.
