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Cryptocurrency News Articles
Bitcoin (BTC) Dips Below $67,000 After Oct. 21 Wall Street Open Amid “Expected” United States Sell Pressure
Oct 21, 2024 at 11:44 pm
Traders consider deeper BTC price pullback next
Bitcoin (BTC) price action dipped below $67,000 on Oct. 21 as the market reacted to strong United States sell pressure.
After notching its highest weekly close in five months the previous week, BTC/USD encountered a minor pullback on Monday. However, traders anticipated a deeper retracement following the rally.
Traders now anticipate a deeper pullback in BTC price following a minor decline on Monday.
BTC price now faces resistance at $69,000 after failing to break through the key level twice last week. However, a successful flip of the level could lead to a retest of all-time highs.
On Monday, BTC price fell by 3% to reach an intraday low of $66,900. However, the flagship digital asset began the day trading at $69,000 before encountering sell pressure from the United States.
After rising to a high of $69,400 on Oct. 19, BTC price encountered resistance at $69,000 for the second time in a matter of days.
Following a brief breakout above the level on Oct. 13, BTC price pulled back below the resistance zone.
Despite the sell pressure, BTC price remained above a key support level at $67,000. The level acted as resistance during the last attempt at breaking through $69,000.
However, BTC price now faces immediate resistance at $69,000, which needs to be flipped for higher levels.
After rising to a high of $69,400 on Oct. 19, BTC price encountered resistance at $69,000 for the second time in a matter of days.
Following a brief breakout above the level on Oct. 13, BTC price pulled back below the resistance zone.
Despite the sell pressure, BTC price remained above a key support level at $67,000. The level acted as resistance during the last attempt at breaking through $69,000.
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