BTC Support Zone: Crucial for Upward Momentum
CryptoNewsTerminal Staff08 Jun, 2024
BTC Support Zone: Crucial for Upward Momentum
BTC is currently sitting on a strong support zone between $69,380 and $67,350. In this range, 1.97 million addresses have bought 964000 BTC. Holding this support is crucial for maintaining the upward momentum. If BTC fails to hold this support, it could lead to a deeper correction. The next support level is around $65,000, and a break below this level could trigger a more significant sell-off. On the other hand, if BTC can hold this support and bounce back, it could continue its upward trend. The next resistance level is around $72,000, and a break above this level could lead to a move towards $75,000. Overall, BTC is at a critical juncture. Holding the current support zone is crucial for maintaining the upward momentum. If BTC can bounce back from this support, it could continue its bullish trend. However, if BTC fails to hold this support, it could lead to a deeper correction.
