Skip to main content

Bitcoin extends downside break towards 65k

The price action in Bitcoin since an earlier update here has seen a modest rebound towards 67k now give way to fresh downside, as the lead going falls below 66k. BTC has traded to a low at 65,470, but it is lifting off that low just now. All the while the price remains below its 21 day moving average, there is scope for more downside, given the wider market moves that got it here in the first place. The thing is; the market is long and waiting for another push higher ahead of the next mining halving event later this month. There is of course a good argument to suggest that has already been more than priced in, with a 60% rise over the past couple of months. Right at this moment it all about stops and forced liquidation ahead of that halving event in a market that has everything on board already. The next big level on the downside is at 65k. BTC is currently trading at 65,990

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!