Bitcoin slid to $69,200 early Tuesday amid profit-taking after briefly crossing the $70,000 level late Monday. Price action across major tokens was mixed. BTC prices moved alongside broader U.S. stock markets, reflecting risky bets in the market. Some meme stocks and tokens jumped more than 100% on the apparent return of influential equity trader Keith Gill.

Crypto exchange Bitfinex said in a report on Monday that bitcoin’s slump since March was likely driven by long-term holders selling. However, blockchain data shows the trend has stalled, and investors are accumulating BTC.

The bears failed to sink and maintain Bitcoin below the support line of the triangle even after several attempts. That may have attracted buying by the bulls. A break and close above the triangle will suggest that the uncertainty has resolved in favor of the bulls. The BTC/USDT pair could then attempt a rally to the strong overhead resistance at $73,777. If bulls pierce this level, the pair could skyrocket to $80,000.

Time is running out for the bears. If they want to remain in the game, they will have to quickly drag the price below the triangle’s support line. That will open the gates for a possible drop to the critical support at $59,600.

Lastly please check out the advancement’s happening in the cryptocurrency world

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