Bitcoin – US Dollar

Bitcoin – US Dollar

Price Action

Bitcoin – US Dollar

Bitcoin continues to trade below the $60k level. Technicals are signalling demand weakness, thus suggest selling signals on the 4H time-frame. Everything being equal, bearish traders are likely to push the BTC/USD exchange rate lower during the upcoming trading sessions. However, I am waiting for the price to complete the H&S pattern to go short. Although, if the crypto exchange rate breaks the resistance level at the 65k area, bulls could target the $75k level during the upcoming trading weeks.

All comments are my own personal views and do not constitute financial advice.

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