BTCUSD (Bitcoin) Loses Bullish Streak

BTCUSD Falls Back to the $65,410 Key Level

The BTCUSD market has recently experienced a loss in its bullish momentum, causing concern among traders and investors. The bullish drive has been restrained as buyers pushed up to the $68,540 key level. However, recent trades have shown a price drop from this key zone down towards the $65,410 market level.

BTCUSD Key Levels

Resistance Levels: $65,410, $63,280
Support Levels: $58,389, $50,660
The recent drop in Bitcoin’s price could be attributed to buyers being under pressure to sustain the expansion. After reaching the $68,540 key level, the price has dropped, indicating a temporary loss of bullish momentum. Currently, buyers may be taking slow steps towards recovery. A stronger side has been observed, especially this month, after sellers traded down to the $54,250 price level.

The Bitcoin crypto, however, made a strong bullish revival, suggesting that buyers may soon gain confidence once again. The MACD still holds tight to bullish sentiment, indicating that the overall trend remains positive despite the recent drop. The Price Oscillator is yet to back down as momentum increases. This suggests there is still underlying strength in the market, and buyers can potentially push back.

Market Expectation

The buy confidence in the short time frame remains in motion. This means that buyers can still put more effort into pushing back. A strong reversal can still play out around the $65,410 key level.
Despite the fall in the MACD and the Price Oscillator, there is still some confidence in the BTCUSD market. The market atmosphere suggests that buyers may soon regain confidence. Traders looking for reliable crypto signals should keep an eye on these key levels for potential market movements.

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