Bitcoin and Stubbornly With 60K Resistance

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Bitcoin appears to have continued the bullish trend, but once the theorists encountered the hard line and the hurdle at $ 60K, the value of the money dropped below $ 57K.

The battle between the bulls and the bears was fierce, but in the end, the bears prevailed in terms of pushing costs down again, resulting in Bitcoin revising around 3% now.

Bitcoin bulls kicked off the week higher after some positive comments of confidence started among the financial backers.

Major cash transfers are starting to arrive in Americans' homes, and the global organization "Meitu" reports its acquisition of $ 50 million in Bitcoin and Ethereum.

The positive news cited above helped Bitcoin rise and rebound once again from the decline it experienced between March 13th and March 16th.

Bitcoin's price fell by more than 13% of its value and it was risky close to supporting $ 50,000.

However, Bitcoin recovered from the decline, giving a strong green light on March 17th, giving buyers the cravings.

Bitcoin rose rapidly later, reaching $ 59,000 yesterday, March 18th, according to "coinmarketcap".

However, he couldn't keep breaking the $ 60,000 opposition.

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Bitcoin is struggling

The $ 60K opposition ends up being a tough contender to win.

The Bulls had the option to raise costs to $ 60,000 at the Binance stage, and from that point on, the decay began.

Within 3 hours, Bitcoin saw a drop to $ 57,000.

Decomposition has from the start more all the properties of being a mental one than its specialty.

During the disclosure stage of value, ever-harsh round numbers become a boundary for the markets to take an interest in.

Many buy and sell orders are assigned at these focus points.

Additionally, Bitcoin appears to have explicitly bounced back in an area that could indicate a downside adjustment.

History seems to be paraphrasing the same

Since breaking the 2017 high in late December 2020, Bitcoin has had bullish drivers of similar ranges, as shown in the chart below.

At the end of the day, from a graphical perspective, costs are just as rapidly increasing in the wake of sharp revisions.

This may show an optimistic view over the long term.

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