Bitcoin Continues its Fall

By
Tana Harina

04/16/2024

4,6

★

Bitcoin is 4 days away from halving, and the major cryptocurrency continues to fall.

There is a lot of volatility in the cryptocurrency market ahead of the Bitcoin halving, which will take place on April 20. Bitcoin started the trading day today with a plunge.

At the time of writing, the asset was trading near $63,000, falling 5% overnight. The price attempted a recovery above the $65,000 resistance zone. Bitcoin even rose above $66,000, then the asset pulled back below the 50% Fib retracement level.

The nearest resistance is close to the $63,750 level. The first major resistance could be the $64,700 level. The next resistance is at the $65,000 level. A move higher will send the Bitcoin price towards the resistance levels of $66,800, $67,200 and $70,000 in the near term.
Otherwise, if Bitcoin fails to rise above the $63,000 resistance zone, it could start a new decline to the $62,000 and $61,000 support levels.

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