The price of Bitcoin (BTCUSD) continues to experience downward pressure, achieving the negative target of $69,605 outlined in our previous technical analysis. The cryptocurrency has surpassed this level and is now poised for further declines in the coming sessions, with the next target set at $67,480.
As a result, we anticipate additional negative trading activity on an intraday basis. However, if the price breaches the resistance level at $70,555, it could halt the current bearish momentum and prompt an attempt to recover the primary bullish trend.
Today’s expected trading range for Bitcoin is between the support level of $67,300 and the resistance level of $70,800.
Trend Forecast: Bearish
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