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

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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.

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: United Kingdom

Topics: Btc US Elections Bitcoin Bitcoin Bitcoin Rejection Crypto market Crypto Market Sentiment Crypto investor Bitcoin ATH ETH BTCUSDT Ethereum Crypto analyst Crypto trader Bitcoin whitepaper

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 09:30:58 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 80 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23363224

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 9 posts per day

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Coverage Areas: United Kingdom

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