Early Bitcoin Dip Buyers Show Up But Will They Reverse The Trend?

BTC

BTC/USDT

$63,021.99

-0.04%

$63,021.99

-0.04%

(24s)

24h Volume

$2,122,350,261.57

24h H/L

$63,175.00 / $62,968.45

Change: $206.55 (0.33%)

Long/Short

67.9%

Long: 67.9%Short: 32.1%

Funding Rate

+0.0035%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,005.96

▼ -0.13%

Volume (24h): -

Resistance Levels

Resistance 3$64,507.45

Resistance 2$63,879.31

Resistance 1$63,135.87

Price$63,005.96

Support 1$62,882.63

Support 2$61,814.38

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):42.7

Cointelegraph Staff

(01:10 AM UTC)

1 min read

Approved byJames Mitchell

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When Bitcoin (BTC) finally escaped from its channel pattern and secured a multiple-day close above the $77,000 resistance, traders rejoiced and declared the downtrend over.

Fast-forward to the present and BTC has fallen below multiple support levels and appears at risk of retesting $70,000, a 16% decline from its range highs.

While billion-dollar spot BTC ETF outflows, resumption of…