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Bitcoin Holds Support, Bounces to $61.4K
A potential technical breakdown would expose a support level near $54,000.
Bitcoin looks to regain poise during overnight trading, after it avoided a short-term bullish-to-bearish trend change with the help of a crucial support level.
- The top cryptocurrency by market value is trading near $61,400 at press time, representing a 1.4% gain on the day.
- While prices fell by 4.3% on Tuesday, sellers failed to break the support level near $59,800 and confirm a “head-and-shoulders” breakdown on the four-hour chart.
- Chart analysts consider a head-and-shoulders breakdown as a bearish signal. The pattern often yields an extended sell-off to the downside.
- A potential head-and-shoulders breakdown on the four-hour chart would expose support near $54,000.
- Resistance is seen at $63,700, which was the high on Monday. A higher break could take bitcoin to record highs.
Higit pang Para sa Iyo
From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
Ano ang dapat malaman:
- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
