In addition to the technical indicators pointed out by Tim McCullough yesterday, Bitcoin maintains a standard deviation from the 12-month moving average of about $50, 000. This means that the rebound in the cryptocurrency will at least be suspended and there may be a more significant correction.
That doesn't necessarily mean an end to the rally or a sharp correction, but when Bitcoin broke through that level in March, it continued to rise to a record high, making it an important observation point. The more you try here, the more likely it is to make a breakthrough. In other words, the current resistance level could easily become a support level.
