The BTC Bulls are Fighting Back!
In our previous Bitcoin analysis, we identified the $70k support zone as a major buying level the BTC bulls have defended over and over again in the past. This zone is very important because if it holds, there is a very high probability that we see a massive bounce and surge from this region in the coming days.
In this Bitcoin analysis, we will be updating you on the current BTC price action as well as what we want to see the BTC bulls do to stop any further sell-off from happening in the coming days.
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BTC Bulls Putting Up A Fight.
Since the Bitcoin price smashed into the $70k support zone, we have seen the BTC selling pressure get absorbed aggressively as the Bitcoin bulls are now fighting back to stop the bearish trend from continuing.
This bullish wall plays out well with our warning to our readers pointing out $70k as a major buying zone for the Bitcoin bulls in the past. If this Zone continues to holds, there is a very high probability that we see more buyers begin to pour into the market in the coming days.
So for now, we continue to stand aside to see how the BTC price will react to this $70k support zone in the coming days.
Final Verdict!
The Bitcoin bears are fighting a wall of buyers ready to defend the $70k region with everything they have. And this is very important because if the $70k support zone gives way, the BTC bulls are doomed.
So for now, we stand aside and continue to track the BTC price develop in the coming days.
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