Bitcoin Tests the Bullish Trendline for Next Moves
Bitcoin's price dipped to as low as $65,796 in today's trading session against the U.S. dollar. As of this writing, the pair is testing the ascending trendline highlighted in red. The technical indicators are not providing valuable information now, so we focus on price action analysis.
From a technical perspective, the trend remains bullish as long as the price stays above the red trendline. However, if bears push and maintain the BTC/USD price below this trendline, the dip could extend further, with the next bearish target potentially being the $68,000 resistance level.