Bitcoin Faces $68K Resistance, $63K Key Support – Analysts
Bitfinex analysts identify $68,000 as key resistance where short-term holder average entry price and Q2 opening level converge. Capital.com's Kyle Rodda sees $63,000 as crucial support.
Analysts at Bitfinex point to $68,000 as the next major resistance zone for Bitcoin. The level aligns with the average entry price of short-term holders over the past five months and the opening price of the second quarter. They warn that an initial test of this mark could trigger a sharp reaction, as some holders may attempt to exit at break-even, amplifying selling pressure.
Kyle Rodda, senior market analyst at Capital.com, identifies $63,000 as a key support level. He notes that holding above this price would indicate a stabilisation of the current correction. A recovery into the $65,000–$66,000 range would bolster momentum and support a move back toward recent highs.
Source: ForkLog