Bitcoin's Battle for $60k 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Andrew Thrasher.
Since the start of the decade, the $60k area has been a significant polarity level for Bitcoin, acting as both support and resistance on numerous occasions.
Bitcoin is now testing that level once again, while momentum (RSI) has fallen to one of its lowest readings in recent years.
While crypto was once a strong proxy for risk appetite, that relationship appears to be changing, as equity markets have continued to rally despite the deterioration in this asset class.
The Takeaway: The $60k level represents a major line in the sand for Bitcoin.
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