Bitcoin is Heading North: Potential Price Drop Ahead

Last week the price of Bitcoin rebounded from the supporting level of 54000. Now, it’s heading up. The price of this asset might target the psychological level of 70000 next to the downtrend. It might eventually rebound from the crossing point of these technical trendlines and drop. So, let’s observe what the next price movement of this asset might be.

U.S. 10-year Treasury yield remains at the level of 3.667%. Last week it was slightly on the rise. This asset will have to face the resistance of 3.783%. After that, the yield of the government bonds might rise again at the beginning of the next trading week. Time will tell whether this scenario might work out.

The price of the Australian dollar retested the resistance area formed between levels 0.6824 and 0.6871. The asset’s price has formed a doji candle at the end of the trading week. It might signify a potential price drop at the beginning of the next trading week. So, let’s see what might happen next.

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