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

BTC

BTC/USDT

$79,655.54

-0.08%

$79,655.54

-0.08%

(24s)

24h Volume

$7,834,581,195.44

24h H/L

$80,200.00 / $79,233.00

Change: $967.00 (1.22%)

Long/Short

52.9%

Long: 52.9%Short: 47.1%

Funding Rate

+0.0020%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,810.00

▼ -0.03%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$82,260.41

Resistance 1$79,878.00

Price$79,810.00

Support 1$79,635.96

Support 2$77,546.36

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):66.7

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.