- A six-month long channel pattern drives the mid-term correction trend in Bitcoin price.
- BTC is currently trading around $73,000, positioning it just below a critical institutional cost threshold.
- The downsloping trend of 100-and-200-day exponential moving average signals that the broader market trend is still bearish.
The pioneer cryptocurrency Bitcoin is up 1.84% during Friday U.S. market hours to currently trade at $73,106. The uptick stems from a broad relief rally, as the absence of fresh geopolitical conflict has preserved the fragile truce between the U.S., Iran, and Israel. However, the on-chain data highlights two major resistance against rising Bitcoin price before buyers could gain stability for a renewed recovery trend.
BTC Near $73K as ETF Break-Even Level Caps Upside
Bitcoin price is trading at around $73 000, which is just $3,700 lower than the average value of the BTC accumulated by major US spot ETFs. Any near-term price increases at this poin...
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