Bitcoin Faces Fifth Consecutive Rejection At $72,000, Is Another Correction Coming?

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Bitcoin Faces Fifth Consecutive Rejection At $72,000, Is Another Correction Coming? - NewsBTC

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Related Reading: Analyst Says It’s Time To Be Bullish On Ethereum’ As ETH Retests $2,700 BTC’s Sweet 16 Party Turns Spooky Bitcoin, the largest cryptocurrency by market capitalization, recorded an impressive rally in Uptober,’ surging around 13% in the last 30 days.

He also highlighted that $69,600 should work as a key support level for Bitcoin bulls but warned that losing the $66,500 range could be "messy” as BTC’s open interest would "flush.” Meanwhile, Crypto Kaleo posted a more bullish outlook for BTC’s price action.

As Bitcoin is currently 194 days post-halving, the analyst considers that "a little bit of a pullback here isn’t any reason for concern.” As of this writing, Bitcoin has held the $70,000 support level, currently trading at $70,522.