Bitcoin recently faced significant resistance in the price range of $69,000 to $70,000, resulting in a subsequent downturn. The price has declined by 3% from a recent peak of $69,566, indicating a retreat in value.
The volatility in the Bitcoin market is pronounced, with potential fluctuations adding to market uncertainties. Despite this setback, the goal of reaching $72,000 is still on the horizon, although the journey might be fraught with challenges.
A noticeable divergence in the four-hourly chart has been spotted, where the price was ascending while the Relative Strength Index (RSI) was moving in the opposite direction, suggesting a possible reason for the decline.
Investors are advised to be cautious and aware of further market movements. High volatility indicates the possibility of more price swings, highlighting the need for vigilance in trading and investment strategies.
