Bitcoin

<ul><li>Bitcoin remains bearish, potentially dropping to $55,000, as it continues to reject Bearish Order Blocks.</li><li>Key resistance at $63,795, where a bullish reversal could occur, but until then, the bearish outlook dominates.</li><li>Immediate support levels at $59,000 and $58,400, with minor rebounds possible around $60,800 before further decline.</li></ul><a href="https://cryptotale.org/bitcoins-1-5-million-buy-orders-is-a-short-squeeze-imminent/" rel="noopener noreferrer nofollow">Bitcoin&#39;s </a>recent price movement has been a topic of intense scrutiny among crypto enthusiasts and traders. As highlighted by <a href="https://x.com/CryptoPatel/status/1808713906396823853" rel="noopener noreferrer nofollow">Crypto Patel</a>, an analyst, the cryptocurrency recently hit a Break of Structure (BOS), making a new low and perfectly rejecting the Bearish Order Block (OB).The current trend remains bearish, with the potential for a drop to $55,000. This analysis suggests that the market is still bearish below the Change of Character (ChoCh) level, with a Break of Structure confirming this sentiment.<a href="https://cryptotale.org/decrypting-bitcoins-market-sentiment-will-55k-be-the-next-bottom/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Decrypting Bitcoin's Market Sentiment: Will $55k Be the Next Bottom?

CryptoTale

Other articles published on Jul 5, 2024

Crypto investor doubles Solana donations to pro-crypto PAC

Altcoinist: $1.5M Raised by Bitcoin.com Co-founder and ETH Dev to Revolutionize Creator Monetization

XRP Price Faces Significant Drop

Bankman-Fried family involved in $100m political donation scandal

Grayscale Said "The Decline Is Short-Term" and Announced Events That Could Make Bitcoin and Altco...

Bitcoin Ichimoku cloud reassures as BTC price bounces from 4-month low

Join our free newsletter for daily crypto updates!