Bitcoin drops to three-month low near $68,800
Bitcoin extended losses to roughly $68,847, its lowest in three months, while S&P 500 futures were down only 0.1%. Oversold readings have traders split between calling a capitulation bottom and warning of a counter-trend bounce.
What we know
Market news accounts report Bitcoin extending losses to three-month lows near $68,847. An analyst notes that S&P 500 futures were only down 0.1% at the same time. Bitcoin's 12-hour RSI is below 25, a reading that in the past year has marked or preceded capitulation, and price sits on its 200-week moving average cloud. One trader says he would stop shorting if he thought the low was in, while another cautions any long is a counter-bounce with mid-$70k as likely resistance. Dip-buyers argue BTC is unlikely to fall below $60k.
What people are posting
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“Bitcoin Extends Losses As Price Falls To Three-Month Lows Near $68,847”
View post →“Bitcoin's 12-hour RSI is oversold (<25).”
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