Bitcoin May Undo Rally After Hitting Resistance: CryptoQuant

BTC

BTC/USDT

$79,655.38

-0.16%

$79,655.38

-0.16%

(24s)

24h Volume

$8,031,933,014.98

24h H/L

$80,200.00 / $79,233.00

Change: $967.00 (1.22%)

Long/Short

53.1%

Long: 53.1%Short: 46.9%

Funding Rate

+0.0030%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,711.92

▼ -0.15%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$81,908.22

Resistance 1$79,878.00

Price$79,711.92

Support 1$79,635.96

Support 2$73,033.65

Support 3$70,930.00

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):66.3

Cointelegraph Staff

(06:55 AM UTC)

1 min read

Reviewed byEmily Watson

0 comments

Bitcoin is at risk of falling into a downtrend after its price hit a key historical “major bear market resistance level” based on its 200-day moving average, according to the crypto analytics firm CryptoQuant.

The cryptocurrency hit its 200-day moving average of $82,400 after rallying over six weeks since early April when it fell to $66,000, CryptoQuant said in a report on Wednesday.

“The 200-day…