Risks of a short-term pullback in the Bitcoin (BTC) price appear to be rising, according to chart analysis.
Bitcoin was last changing hands close to $27,500, about 6% below the nine-month highs it hit on Friday in the $29,300s.
The cryptocurrency’s repeated failure to hold above resistance in the form of the late-May 2022 lows in the low-$28,000s this week has gotten some traders worried that a short-term pullback to key support in the mid-$25,000s might be incoming….
Read More: Bitcoin Bears Eye Possible Pullback to This Key Support Area, But Longer-term BTC Price Outlook Remains Strong
Bitcoin was last changing hands close to $27,500, about 6% below the nine-month highs it hit on Friday in the $29,300s.
The cryptocurrency’s repeated failure to hold above resistance in the form of the late-May 2022 lows in the low-$28,000s this week has gotten some traders worried that a short-term pullback to key support in the mid-$25,000s might be incoming….
Read More: Bitcoin Bears Eye Possible Pullback to This Key Support Area, But Longer-term BTC Price Outlook Remains Strong