The price bitcoin is trading lower on the day back below the $60,000 level in reaching a low level of $58,076. That got within $41 of its low price from June 25 at $58,035. The low from June 25 was a lowest level going all way back to September 2024.
So far, the buyers are leaning and have push the price back up to $58,346 currently. However, coming off of a low is a natural reaction. However if the buyers are to take more control, they need to get above technical levels.
The first would come at the 100 hour moving average at $59,849. That would be followed by a break back above its falling 200 hour moving average at $60,814. If the price cannot get and stay above those levels, the buyers are not winning in the sellers are more in control.
On a break of the $58,035 level, the swing low from September 17 comes in at $57,627. Moved below that level and the door opens with the September 2024 low price coming in at $52,546 as a next major target.
This article was written by Greg Michalowski at investinglive.com.
