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

BTC

BTC/USDT

$79,856.01

+0.19%

$79,856.01

+0.19%

(24s)

24h Volume

$6,064,843,950.61

24h H/L

$80,200.00 / $79,442.00

Change: $758.00 (0.95%)

Long/Short

52.8%

Long: 52.8%Short: 47.2%

Funding Rate

+0.0010%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,898.13

▲ 0.30%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$82,683.92

Resistance 1$80,881.43

Price$79,898.13

Support 1$79,635.96

Support 2$76,187.99

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.9

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…