Bitcoin Faces Crucial Resistance at $68,000
A recent analysis by AMBCrypto suggests that BTC’s jump to $67,740 does not guarantee a sustained uptrend. In fact, there is a possibility of a pullback to $60,000, triggered by a resistance zone between $67,000 and $68,000.
The liquidation heatmap and Realized Price metrics indicate that while a drop to $60,000 is possible, BTC could later rally to $72,000, with the SOPR Ratio suggesting a potential uptrend.
Bitcoin’s Market Outlook and Price Predictions
According to Coinglass data, BTC could retest the $68,000 resistance level before a potential pullback to $60,000, which may act as a support zone. The Realized Price and SOPR Ratio metrics suggest that BTC is not yet in a bear market and could see further upside potential.
While a correction to $60,000 may be on the horizon, a consolidation phase and increased liquidity could pave the way for a rally towards $72,000 in the near future.
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