Bitcoin Tests Key Resistance at $68,000
JH Kim
Summary
- Bitcoin is testing a key resistance level near $68,000, and a break above it could determine its next direction.
- Bitfinex said buyers' average purchase price over the past five months has been concentrated around $68,000.
- Bitfinex said strong selling pressure could emerge at that level as short-term holders opt to sell at break-even.
Forecast Trend Report by Period
Bitcoin is testing a key resistance level near $68,000, with a break above that range potentially setting its next direction.
The Block reported on July 22 that Bitfinex said buyers' average purchase price over the past five months has been concentrated around $68,000.
At that level, many investors who had been in the red would return to break-even. Bitfinex added that could unleash heavy selling pressure as short-term holders opt to sell at cost.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.