{"id":51127,"date":"2024-05-31T01:08:00","date_gmt":"2024-05-31T01:08:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/traders-say-bitcoin-price-fights-last-resistance-at-69k-before-new-all-time-highs"},"modified":"2024-05-31T06:12:57","modified_gmt":"2024-05-31T06:12:57","slug":"traders-say-bitcoin-price-fights-last-resistance-at-69k-before-new-all-time-highs","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51127","title":{"rendered":"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs"},"content":{"rendered":"

Bitcoin\u00a0is on the cusp of entering price discovery, contingent on breaching the critical resistance at its previous all-time high of $69,000, according to crypto analysts.<\/p>\n

Bitcoin (BTC)\u00a0hit its peak of around $69,000 during the 2021 bull run. This level was tested again on March 5, following the approval of spot Bitcoin exchange-traded funds (ETFs)\u00a0in the United States earlier this year.<\/p>\n

Despite several attempts to break through, Bitcoin has remained below this threshold\u00a0for approximately 10 weeks.<\/p>\n

\"\"
BTC\/USD daily chart. Source: TradingView<\/em><\/figcaption><\/figure>\n

Crypto analyst Daan Crypto Trades said that the fight to breach old-time highs is \u201cnever an easy fight,\u201d and it usually takes time before this is achieved.<\/p>\n

He noted\u00a0that supply needs to \u201cdry up\u201d around the resistance zone and coins must transition from impatient to patient holders, which usually leads to favorable outcomes.<\/p>\n

\u201c#Bitcoin\u00a0Fighting the last resistance before full on price discovery.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USD weekly chart. Source: Daan Crypto Trades<\/em><\/figcaption><\/figure>\n

Other crypto analysts share this bullish sentiment. \u201cBitcoin\u2019s market structure remains firmly bullish!\u201d declared crypto analyst Jelle in a May 30 post on X, adding that the price has been in \u201ca steady uptrend for well over a year now, consolidating right below the current all-time highs.\u201d<\/p>\n

In another X post, Jelle noted that BTC\u2019s price was retesting a key support level after \u201cbreaking out from the falling wedge\u201d on the daily time frame.<\/p>\n

\u201cHold here, and new all-time highs should come soon enough.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USD daily chart. Source: <\/em>Jelle<\/em><\/figcaption><\/figure>\n

Pseudonymous crypto analyst CryptoCon described Bitcoin\u2019s current low volatility around the previous highs as healthy price action.<\/p>\n

\u201cThis is only half the time we saw in August \u2014 October 2023, which was one of the least volatile periods in Bitcoin\u2019s history […] These times of low volatility are crucial to build support for the next leg up,\u201d they wrote in a May 29 post on X.<\/p>\n

\u201cThe next green box is loading…\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USD daily chart. Source: <\/em>CryptoCon<\/em><\/figcaption><\/figure>\n

Daan Crypto Trades noticed about \u201c$100M in sell orders sitting around $69K\u201d adding to sell-side pressure from this level.<\/p>\n

CoinGlass data indicates that $68,700 is a significant area of bid liquidity just below this resistance.<\/p>\n

\"\"
Bitcoin liquidation heatmap. Source: CoinGlass<\/em><\/figcaption><\/figure>\n

At the time of publication, BTC was trading at $68,485 on May 30, up 1.5% over the last 24 hours.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n

Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin\u00a0is on the cusp of entering price discovery, contingent on breaching the critical resistance at its previous all-time high of $69,000, according to crypto analysts. Bitcoin (BTC)\u00a0hit its peak of around $69,000 during the 2021 … Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51129,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,6730,6942,3812,5652,276,159],"class_list":["post-51127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-btc-prices","tag-cryptomems","tag-cryptonews","tag-emilynews","tag-ethereum","tag-hyipnews","exalt-entry"],"yoast_head":"\nTraders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51127\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin\u00a0is on the cusp of entering price discovery, contingent on breaching the critical resistance at its previous all-time high of $69,000, according to crypto analysts. Bitcoin (BTC)\u00a0hit its peak of around $69,000 during the 2021 … Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highsRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=51127\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-31T01:08:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-31T06:12:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"840\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51127\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=51127\",\"name\":\"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51127#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51127#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg\",\"datePublished\":\"2024-05-31T01:08:00+00:00\",\"dateModified\":\"2024-05-31T06:12:57+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51127#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=51127\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51127#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg\",\"width\":840,\"height\":562},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51127#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=51127","og_locale":"en_US","og_type":"article","og_title":"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs - EmilyNews","og_description":"Bitcoin\u00a0is on the cusp of entering price discovery, contingent on breaching the critical resistance at its previous all-time high of $69,000, according to crypto analysts. Bitcoin (BTC)\u00a0hit its peak of around $69,000 during the 2021 … Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highsRead more","og_url":"https:\/\/emilynews.com\/blog\/?p=51127","og_site_name":"EmilyNews","article_published_time":"2024-05-31T01:08:00+00:00","article_modified_time":"2024-05-31T06:12:57+00:00","og_image":[{"width":840,"height":562,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emilynews","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=51127","url":"https:\/\/emilynews.com\/blog\/?p=51127","name":"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=51127#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=51127#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg","datePublished":"2024-05-31T01:08:00+00:00","dateModified":"2024-05-31T06:12:57+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=51127#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=51127"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=51127#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/\u0411\u0435\u0437\u044b\u043c\u044f\u043d\u043d\u044b\u0439.jpg","width":840,"height":562},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=51127#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"Traders say Bitcoin price fights \u2018last resistance\u2019 at $69K before new all-time highs"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51127"}],"version-history":[{"count":3,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51127\/revisions"}],"predecessor-version":[{"id":51132,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51127\/revisions\/51132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/51129"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}