Bitcoin Price Analysis: The Bulls Must Protect This Level to Keep Hopes for $70K Alive

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Bitcoin Price Analysis: The Bulls Must Protect This Level to Keep Hopes for $70K Alive
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Bitcoin’s price has been correcting over the last couple of days after failing to break the $68K resistance level to the upside.

Yet, with the support level mentioned above still intact, a breakout above $68K and a new all-time high are still very likely in the short term.The 4-hour chart shows that while the price has been making higher highs and lows since the first week of July, the $68K resistance level has pushed the cryptocurrency lower.

During the recent Bitcoin price correction from the $70K level, many market participants assumed that the bull run was over. However, the aggregate behavior of investors tells a completely different story.

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