Bitcoin price traded to a new all-time high above $69,000 before crashing. BTC is now consolidating near $63,000 and might decline toward the $60,000 support.
- Bitcoin price created history again and traded to a new all-time above $69,000.
- The price is trading below $65,000 and the 100 hourly Simple moving average.
- There was a break below a key bullish trend line with support at $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could extend losses and revisit the key $60,000 support zone.
Bitcoin Price Takes Hit
Bitcoin price extended its increase above the $68,000 resistance. BTC even broke the $68,800 level and traded to a new all-time high at $69,218. However, there was a strong bearish reaction from $69,200.
The price crashed over 10% and dived toward the $60,000 zone. There was a break below a key bullish trend line with support at $66,000 on the hourly chart of the BTC/USD pair. A low was formed near $59,150 and the price is now attempting a recovery wave.Bitcoin is now trading below $64,000 and the 100 hourly Simple moving average. Immediate resistance is near the $64,000 level. The next key resistance could be $64,200, above which the price could rise toward the $65,500 resistance zone.