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Bitcoin Faces Resistance at $68k

Written By: ChartChamp

October 17, 2024

Bitcoin continues to experience resistance around $68k. I think the weekend price action will be important, and I would like to see a bullish weekly candle close above $68k. There has been a rejection at $68k so far, and Bitcoin has dropped back below $67k. For now the price is trending back down and I would wait for a bullish rebound.

BTC is building support around $66.7k, and is preparing for another attempt to break above the $68k resistance level. It is common for Bitcoin to experience strong upside at these resistance levels, rising by thousands of dollars in a relatively short time. That is a possible scenario here, but a rejection is also something to consider as well. For now things are looking very bullish, we’ll see if BTC breaks through $68k on this move up.

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