Bitcoin Pulls Back From All-Time High, Support Between $63K-$65K
Intraday charts are showing initial signs of upside exhaustion.
Bitcoin spiked toward an all-time high around $68,950 after a stronger-than-expected U.S. inflation report on Wednesday. The cryptocurrency is now slightly lower, trading around $65,700 at press time, although buyers could hold support above $63,000-$65,000 into Asian trading hours.
Intraday charts are showing initial signs of upside exhaustion, which typically lead to a brief pullback in BTC’s price. For example, the relative strength index (RSI) on the four-hour chart continues to hover near short-term overbought levels.
Still, upside momentum signals are improving on the daily price chart for the first time since Oct. 1, which preceded a price rally from $44,000. This suggests that buyers could remain active on pullbacks.
Two consecutive daily closes above an all-time price high would yield further upside targets, initially toward $86,000.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
