Bitcoin price broke out of range to retest the $24,000 resistance level, but technical analysis suggests that the move could be a fakeout.
But BTC's potential to recover entirely from its ongoing bearish slumber appears low for at least three key reasons.Bitcoin established its record high of $69,000 in November 2022. Since then, the cryptocurrency has declined by more than 60% while undergoing several mini pumps on its way down.
At $27,000, the price would still form a lower high compared to the previous local tops. So, that technically raises the possibility of another bearish continuation move.Interestingly, the volume behavior during the ongoing Bitcoin correction shows a greater interest in selling the coin at local tops.
Bitcoin is once again tailing stock market trends despite briefly decoupling from them in early July.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Astros drop second in a row at OaklandChad Pinder hits grand slam off Luis Garcia to give A's the victory
Read more »
Athletics Stun AL West-Leading Astros for First Series Sweep of SeasonThe A’s completed the series sweep over the AL West-leading Astros on Wednesday.
Read more »
Bitcoin Pumps to $22k as Fed Hikes Rates by 75 BPSThe Fed’s announcement again exercises its influence over global markets – including Bitcoin.
Read more »
How Many Bitcoins Are There? | CoinMarketCapThe maximum number of Bitcoins that will ever exist is 21 million — but have you wondered how much BTC are circulating currently, and how many Bitcoins are irrevocably lost?
Read more »
Powered by the Stephens, A’s credit ‘swag’ for their unexpected sweep of AstrosA trio of Stephens gave A’s fans a reason to cheer Wednesday afternoon as Oakland swept the Astros.
Read more »
Steph Curry takes Coliseum batting practice before A’s gameSteph Curry threw out the first pitch before the A’s game against the Astros Wednesday afternoon at the Coliseum.
Read more »