Bitcoin Dips Below $63K: What Does Technical Analysis Say?
Portfolio Pulse from Khyathi Dalal
Technical analyst CryptoCred discusses Bitcoin's key resistance and support levels, suggesting potential trading strategies for Bitcoin and altcoins. He identifies $64,200 as a crucial resistance level for Bitcoin, with a potential pullback to $58,000-$58,700 if rejected. For altcoins, he advises a trend-following approach with aggressive invalidation criteria.
October 08, 2024 | 12:53 pm
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Bitcoin's price is currently below the key resistance level of $64,200. A breakthrough above this level could indicate strength, while a rejection might lead to a pullback towards $58,000-$58,700.
The analysis highlights $64,200 as a critical resistance level. Bitcoin's failure to break this level could lead to a price decline towards $58,000-$58,700, indicating a bearish short-term outlook.
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