IITMIND: EdTech, Finance and Crypto currencies



Bitcoin price recently extended its downside correction below the $67,500 level. BTC tested the $67,000 zone and now has started a recovery track. There was a break above a key bearish trend line with resistance at $67,800 on the hourly chart of the BTC/USD pair. The pair climbed above the $68,500 and $69,000 levels.

However, the bulls were active near $68,000 and the 61.8% Fib retracement level of the upward move from the $67,099 swing low to the $69,548 high. Bitcoin is now trading above $68,000 and the 100 hourly Simple moving average.

If Bitcoin fails to climb above the $68,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $68,000 level. Any more gains might send BTC toward the $72,600 resistance.

As of now, at the time of writing this article, BTC is trading around $68,200 with a weekly gain of 1.25% and has a market capitalization of $1.33 Trillion.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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