Bitcoin’s drop from $69.4k – Key levels and trends to watch this week!
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Bitcoin's recent price movement has been marked by a 2.7% drop after reaching a high of $69.4k. This has made traders focus on key levels at $70k and $66.4k, which are seen as critical near-term targets. Several liquidation levels around these key points are also crucial in understanding the future price trends.
The $70k level is particularly significant as it marks a psychological barrier for both traders and investors. Reaching this level could indicate bullish momentum, while failing to hold above it might suggest weakness and further downside risk.
On the other hand, the $66.4k level serves as a support zone that could cushion further declines. If the price holds at this level, it could offer buying opportunities and stabilize the market.
Overall, market participants should monitor these levels closely this week as they could play a pivotal role in Bitcoin's near-term price direction.
Source: ambcrypto.com ↗
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