Bitcoin Risks 30% Drop as Multi-Month Resistance Caps BTC Price Again

BTC

BTC/USDT

$79,776.00

+1.08%

$79,776.00

+1.08%

(24s)

24h Volume

$16,850,439,559.55

24h H/L

$79,880.00 / $77,632.58

Change: $2,247.42 (2.89%)

Long/Short

53.9%

Long: 53.9%Short: 46.1%

Funding Rate

+0.0057%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$78,765.05

▼ -0.33%

Volume (24h): -

Resistance Levels

Resistance 3$87,657.12

Resistance 2$81,267.88

Resistance 1$79,639.37

Price$78,765.05

Support 1$78,582.67

Support 2$76,487.88

Support 3$74,968.23

Pivot (PP):$78,635.98

Trend:Uptrend

RSI (14):79.2

Cointelegraph Staff

(09:04 AM UTC)

1 min read

Approved byEmily Watson

0 comments

Bitcoin (BTC) has climbed roughly 40% from its February lows, bringing the price back to a critical resistance zone that could determine whether the bear market continues or finally ends.

Key takeaways:

Bitcoin fell 2.25% to around $80,500 after failing once again to break above its 200-day EMA resistance.
Previous rejections from the same technical level triggered Bitcoin declines of 25% and 36%.