The price of BTC experienced a slight decrease of 0.45% in the past 24 hours. On May 21, the value of Bitcoin reached its highest point in a month, peaking at $71,443. Over the last month, Bitcoin has seen significant fluctuations in its price, ranging between $62,000 and $70,000 due to a battle between bulls and bears. Despite facing obstacles in the market, the cryptocurrency displayed a short-lived bullish rally, coming close to its all-time high.
Currently, BTC is being traded at $68,749, reflecting a decline of 0.45% in the last day. The daily trading volume rose by 54.04% to $30.99 billion. The price of BTC recently surpassed several resistance levels, reaching approximately $72,000.
Although the price briefly reached a weekly high of $71,200, it then dropped to $69,000. Bitcoin’s daily RSI, standing at 56.53, suggests that the cryptocurrency is focused on a bull run and is slightly in the overbought zone.
In other news, MonochromeAsset, an Australian investment manager, is set to launch Australia’s first spot Bitcoin ETF called the Monochrome Bitcoin ETF. This ETF will directly hold Bitcoin and will begin trading on CBOE Australia today, marking a significant milestone in the country’s financial landscape.
Looking ahead, if BTC maintains a price above $69,000 and continues to rise, the initial key resistance level can be found at $70,650, followed by a bullish trend towards the next major resistance at $71,240. Breaking through this resistance would propel the price towards the $72,120 level.
On the other hand, if Bitcoin fails to surpass the $70,650 resistance zone, it may continue to decline with immediate support around the $68,490 range. The first significant support level is at $67,810, followed by another major support level at $67,120. Further decline could push the price towards $66,000.
In today’s highlighted news, Roaring Kitty is currently under scrutiny for alleged manipulation of GameStop stock.