Bitcoin 4-Hour Analysis.
As it stands, bears risk being put out of the market. At press time, buyers might face a resistance at $68,453. If bulls push the price above the resistance, Bitcoin might reclaim $69,000 for a start.
Furthermore, the successful close could lead to an extension which puts BTC as high as $72,000. But that would depend on the bulls’ ability to defend the $66,186 support. However, rejection at the resistance could force a descending trend that could plunge Bitcoin below $63,000.
In addition, the 9 EMA (blue) was above the 20 (EMA) indicating a bullish trend. If BTC stays above both EMAs, then the bullish bias earlier mentioned could be validated. But BTC’s decline below the 9 EMA could lead to a minor correction which traders should watch out for.$BTC
