Bitcoin Struggles to Maintain Bullish Momentum Above $66,190 Key Level

Bitcoin Fights in Consolidation Zone

Bitcoin crypto struggles to maintain bullish momentum above the $66,190 key level. Bitcoin is locked in a fierce battle to sustain its bullish momentum above the crucial $66,190 level. This intense struggle follows a strong upward rally, which began with a surge from the $60,000 mark. Buyers demonstrated impressive strength, pushing Bitcoin near the $70,000 level. However, recent market activity shows signs of a struggle as sellers gradually attempt to regain control.

Bitcoin Key Levels

Resistance Levels: $70,000, $68000
Support Level’s: $66,190, $60,000
Bitcoin’s bullish drive over the past few weeks marked a remarkable recovery. Buyers managed to create a solid foundation, bringing price action close to the psychologically significant $70,000 mark. Yet, the recent pullback around $66,190 indicates sellers are attempting to disrupt this momentum, leading to an uncertain outlook.

The Bollinger Bands currently place buyers around the middle band, reflecting a consolidation phase with a potential buildup for the next move. As of now, the market remains in a holding pattern, with bullish traders seeking to establish dominance and pull away from the $66,190 support level.

On the Momentum Indicator, a noticeable drop suggests waning momentum amid recent accumulation. However, a renewed push from the bulls could flip the momentum, signaling a potential resurgence in buying pressure. On the daily chart, buyers appear to be preparing for another rally, but they need to assert a firmer presence above $66,190 to secure a bullish outlook.

Market Expectation

Bitcoin price struggle to hold its position above $66,190 underscores the tension between buyers and sellers. Short-term traders should keep an eye on the Bollinger Band’s middle line and the Momentum indicator, as both signals will provide insight into potential shifts in strength.
A break above $70,000 could confirm a renewed bullish drive, while a dip below $66,190 might imply a temporary bearish phase. The market will likely remain dynamic in the near term as participants gauge momentum, awaiting clearer crypto signals of Bitcoin’s next direction.

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