Bitcoin Falls Below $78,000 as Analysis Eyes a New Bear Trap

BTC

BTC/USDT

$63,533.39

-0.28%

$63,533.39

-0.28%

(24s)

24h Volume

$14,384,341,917.88

24h H/L

$64,394.44 / $62,829.81

Change: $1,564.63 (2.49%)

Long/Short

62.8%

Long: 62.8%Short: 37.2%

Funding Rate

+0.0003%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,539.38

▼ -0.06%

Volume (24h): -

Resistance Levels

Resistance 3$67,544.12

Resistance 2$65,821.52

Resistance 1$64,204.08

Price$63,539.38

Support 1$62,892.34

Support 2$61,056.47

Support 3$59,130.91

Pivot (PP):$63,599.35

Trend:Downtrend

RSI (14):32.9

Cointelegraph Staff

(05:07 PM UTC)

1 min read

1292 views

Bitcoin (BTC) circled $78,000 on Saturday after geopolitical headwinds erased most of its May gains.

Key points:

Bitcoin falls below $78,000 for the first time since the start of May.
Oil-supply woes combine with existing nerves over US bond markets, adding to headwinds for risk assets.
Support weakness has traders looking at $75,000 and under next, while optimists see a "bear trap" forming.