Bitcoin (BTC) Price Analysis: Revisiting Longer-Term Ceilings

Bitcoin recently tumbled below the bottom of a symmetrical triangle then bounced off support around $5,750. Price could be pulling back to retest the broken support before heading back down.

Using the Fib tool on the latest swing high and low shows that the 50% to 61.8% levels are close to the broken triangle bottom, which might now hold as resistance. If so, price could fall back to the swing low or even lower.

The 100 SMA is below the longer-term 200 SMA to indicate that the path of least...

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