Cryptocurrency

Value

2024

Bitcoin

Resistance

<p>The post <a href="https://coinpedia.org/news/could-bitcoin-slip-to-60k-if-bull-fails-to-overcome-66k-update-on-altcoin/" rel="noopener noreferrer nofollow">Could Bitcoin Slip to $60K? IF Bull Fails To Overcome $66K, Update On Altcoin</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Cryptocurrency liquidations have surged as the global market cap fell below $2.3 trillion, a 4.7% decline. According to <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">Coinglass data</a>, total liquidations have increased by 92.5% in the past 24 hours, reaching $304 million. Of this, nearly 89%, or $279.7 million, came from long positions, driven by the market’s downturn.&nbsp;</p>
<p>Bitcoin price is under pressure, approaching a critical support level of $63,300. This shift comes after a rejection at $67,000, mirroring the cautious overall market sentiment.</p>
<h2 class="wp-block-heading" id="h-bitcoin-eyes-60k-what-s-next">Bitcoin Eyes $60K: What’s Next?</h2>
<p>In a recent update, renowned crypto trader Emperor noted that Bitcoin has been rejected from the range Point of Control (POC) at $67,000. Although short-term (LTF) long positions are manageable, a recent rejection of $67K indicates a downward trend.</p>
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   <p lang="en" dir="ltr">BITCOIN PRICE UPDATE <br><br>1. Almost at our level of support at $63,300. Still looks heavy and LTF longs are alright but we rejected from Range POC at $67,000 and heading lower.<br><br>2. I will consider longing on LTF sweeps of our level. Next area of interest is from $62,000-$60,000… <a href="https://t.co/ix2kH9yfGK" rel="noopener noreferrer nofollow">pic.twitter.com/ix2kH9yfGK</a></p>— Emperor <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f451.png" alt="👑" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@EmperorBTC) <a href="https://twitter.com/EmperorBTC/status/1816445698080117059?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 25, 2024</a>
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<p>Meanwhile, Emperor outlines a potential strategy, suggesting a willingness to consider long positions on short-term sweeps of the current level. The next areas of interest are identified as between $62,000 and $60,000, which represent the Value Area Low and Range Low.&nbsp;</p>
<p>These levels could provide opportunities for traders looking to capitalize on Bitcoin’s price movements.</p>
<h2 class="wp-block-heading" id="h-cautious-stance-towards-altcoin">Cautious Stance Towards Altcoin</h2>
<p>In this volatile market environment, Emperor advises caution, especially regarding altcoins, stating no interest in bidding on them until <a href="https://coinpedia.org/news/bitcoinos-achieves-breakthrough-with-zkp-on-bitcoin-250-million-liquidated/" rel="noopener noreferrer nofollow">Bitcoin shows</a> clear strength. He further noted that any clear strength in altcoins might be misleading unless supported by a strong catalyst.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bulls-need-to-overcome-66k-resistance">Bulls Need to Overcome $66K Resistance</h2>
<p>Bitcoin’s price recently bounced <a href="https://coinpedia.org/price-analysis/bitcoins-struggle-story-continues-as-btc-price-hangs-tight-at-64k/" rel="noopener noreferrer nofollow">back to $64,050</a> after hitting a low of $63,502. To prevent a potential downtrend, BTC must break through the crucial resistance at $66,000.&nbsp;</p>
<p>Previously, Bitcoin had earlier surged 28% over 17 days, reaching a high of $67,098 before a 6.8% correction. If Bitcoin can reclaim the $66,000 level, it may signal the continuation of its bullish momentum.</p>

Could Bitcoin Slip to $60K? IF Bull Fails To Overcome $66K, Update On Altcoin

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