Analyzing Bitcoin's Key Support and Resistance Levels for Potential Breakout
Wednesday, 22 May 2024, 13:10
Bitcoin Key Levels Analysis
Bitcoin revisited the $70,000 price zone in a bullish trend, with key support at $60,000 and resistance at $72,000.
Support and Resistance Insights
- The $60,000 and $72,000 levels are crucial for possible breakouts.
- Strong on-chain data indicates support at $64,690 while facing psychological resistance at $70,000.
Bitcoin's potential for new highs is supported by the MVRV Ratio analysis, although indicators remain volatile.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.