The cryptocurrency market is experiencing a cool down as Bitcoin approaches a significant resistance level.
After a strong rally, Bitcoin is now hovering near the $66K mark, and recent market indicators suggest that the momentum might be slowing.
Traders are keeping a close eye on the daily charts, which have shown some bearish signs.
In the latest daily close, Bitcoin displayed a slightly bearish candle pattern, indicating that a retest of lower levels may be on the horizon.
The stochastic oscillator has also crossed down, which could signal a temporary slowdown in bullish momentum.
After a strong rally, Bitcoin is now hovering near the $66K mark, and recent market indicators suggest that the momentum might be slowing.
Traders are keeping a close eye on the daily charts, which have shown some bearish signs.
In the latest daily close, Bitcoin displayed a slightly bearish candle pattern, indicating that a retest of lower levels may be on the horizon.
The stochastic oscillator has also crossed down, which could signal a temporary slowdown in bullish momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.