As a seasoned researcher with years of experience navigating the volatile world of cryptocurrencies, I’ve seen my fair share of market corrections – and let me tell you, they never get any easier! Today, we’re facing another dip as Bitcoin (BTC) has taken a 2.45% tumble since yesterday.
The market is facing a correction today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone down by 2.45% since yesterday.
Even though Bitcoin’s price has dropped today, its short-term trend appears to be falling (bearish). If current conditions persist until the end of the day, there could be an imminent attempt to reach the resistance level of approximately $66,429.
On the bigger time frame, the technical picture has not changed much since yesterday.
In this case, ongoing consolidation in the zone of $66,000-$68,000 is the more likely scenario.
Looking at the mid-term perspective, it appears that bulls might require additional time to gather strength for another push. If the week’s closing price strays significantly from the previous high ($69,363), there could potentially be a downtrend towards the $64,000 level.
Bitcoin is trading at $66,730 at press time.
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2024-10-26 20:10