BTC/USD in a Downward Correction as Bitcoin Battles $58.4K High

Bitcoin Fluctuates Between $57k and $58.K as Bitcoin Battles $58.4K High – October 14, 2021

Today, BTC/USD retraces to the support above $57,100 as Bitcoin battles $58.4K high . In previous price action, buyers were unable to sustain the bullish momentum above $57,000 high. On October 13, BTC’s price rebounded to break the $57,000 resistance and the bullish momentum extended to the high of $58,400. However, the crypto has retraced to the breakout price level.

Resistance Levels: $50,000, $51,000, $52,000
Support Levels: $40,000, $39,000, $38,000

BTC/USD – Daily Chart

BTC/USD has retraced from $58,400 to $57,100. The $58,400 is the new peak price of Bitcoin while the $57,100 is the breakout price level. After finding support above $57,100, BTC’s price has resumed a new uptrend. Buyers are expected to revisit the previous highs to break above the resistance. Bitcoin is range-bound between $57,000 and $58,400 . The crypto will rally above the $60,000 high; if the BTC price rebounds above the $57,600 support and the bullish

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