Crypto Daily – The pair has come back down to the $64,500 horizontal level, which it has only recently flipped into support. Will Bitcoin bounce from here and break through the top of its bull flag, or is yet another rejection about to take place?
Will the $64,500 horizontal support hold?
Bitcoin is still on course to break out of its six-month bull flag. That said, many might be nervously watching the number one cryptocurrency as it teeters at the $64,500 horizontal support level.
It seems that Bitcoin hardly ever takes the easy route. Its path is nearly always tortuous, at least as far as investors and traders are concerned. It might have appeared to be straightforward for the $BTC price to just continue its recent upswing, and just power through the top of its bull flag on its way to a new high.
Source: TradingView
None of it. The $BTC price has come all the way back down to what was previously strong resistance at $64,500. That said, this is also…
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