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On Friday, the price of Bitcoin collapsed as low as $53,898, its lowest price since February. That’s a 27% drop from its all-time high of $73,700 registered in March, and the largest pullback from a local high since the asset’s bottom at $15,500 in November 2022.
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A breakthrough at this level could indicate a significant trend shift. Upper pressure ranges between $66,000 and $68,000; only a breakthrough is likely to reverse the trend, otherwise, fluctuations may persist.
Weekly #Bitcoin:
The lowest 4-hour BTC drop reached $60,630 before rebounding, remaining above the midpoint of the previous rise at $60,500. The 4-hour moving averages (MA140 and MA120) converge near $63,100.