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

BTC

BTC/USDT

$63,140.06

+0.13%

$63,140.06

+0.13%

(24s)

24h Volume

$2,816,422,647.22

24h H/L

$63,390.00 / $62,968.45

Change: $421.55 (0.67%)

Long/Short

68.7%

Long: 68.7%Short: 31.3%

Funding Rate

+0.0043%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,164.00

▲ 0.12%

Volume (24h): -

Resistance Levels

Resistance 3$66,088.35

Resistance 2$64,507.45

Resistance 1$63,398.11

Price$63,164.00

Support 1$62,993.17

Support 2$61,814.38

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):43.9

Cointelegraph Staff

(05:07 PM UTC)

1 min read

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.