From the opinion that #Bitcoin is likely to form an upward price adjustment to the crypto community's hope that #Elon Musk will deploy crypto payments on X. Here are some outstanding news on crypto market.
Bitcoin is currently trading around $29,400 and appears to be in a neutral state as it has some difficulty breaking above the $29,600 mark, as indicated on the 4-hour timeframe.
On the other hand, a bullish breakout above $29,600 is likely to send BTC price towards $30,200.
Bitcoin has hit the 61.8% Fib retracement level at $29,200. Closing the doji candle above this level indicates the possibility of a bullish correction signal. However, if it drops below, BTC could fall into a downward trend.
On the other hand, overcoming the $30,200 resistance could push BTC towards the $30,600 to $31,000 range.
The $29,800 and $30,200 zones are crucial. Potential changes below this area suggest a bearish trajectory for BTC.C.
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