On June 24, the bitcoin price hit a new 2023 high of $31,185 . However, resistance at that level remains strong.
The asset fell 1.7% to $30,224 in the Asian trading session on Monday morning.
BTC is still up 14% since the same period last week, buoyed by BlackRock ETF applications and renewed institutional interest.
If resistance levels cannot be broken, a double top pattern could form. This could lead to another pullback to lower levels of support and more consolidation.
The asset fell 1.7% to $30,224 in the Asian trading session on Monday morning.
BTC is still up 14% since the same period last week, buoyed by BlackRock ETF applications and renewed institutional interest.
If resistance levels cannot be broken, a double top pattern could form. This could lead to another pullback to lower levels of support and more consolidation.