The price of Bitcoin has increased by 6% since it crossed into the $53,000 price territory on July 5. However, while the cryptocurrency is now exhibiting short-term bullishness, it is important to note that it is not out of the woods yet. Related Reading: Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? There are still some serious resistance levels that could keep BTC trapped in a range below $60,000 for the rest of the month. According to a recent analysis by Captain Faibik, the leading digital asset needs to close above the $61,000 mark before everybody can be convinced of bullish momentum. Bitcoin Needs To Clear Major Resistance The $61,000 price level isn’t just an arbitrary price point. According to a recent analysis shared by crypto analyst Captain Faibik, the $61,000 price is more of a resistance level that resonates with Bitcoin’s price action over the past two months. In a 4-hour Bitcoin/TetherUS timeframe chart shared on social media platform X, the analyst drew two diverging trendlines from Bitcoin’s brief break above $70,000 on June 6. ..
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