Bitcoin (BTCUSD) has resumed its downward trajectory, recently reaching the $67,000 mark. This movement reinforces expectations of a persistent bearish trend in the short term, as the cryptocurrency remains within a bearish channel. Analysts anticipate that Bitcoin could target $65,485 as the next significant support level.
Given this outlook, the bearish trend is expected to continue in the near future. However, a breach above the $69,160 level would signal a reversal, potentially restoring the price to its previous bullish trend.
Today’s anticipated trading range is set between $66,000 for support and $69,300 for resistance.
Trend Forecast: Bearish
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