Bitcoin may see a price rebound based on MVRV indicator, facing resistance at $65,000.

From Investing.com

July 19, 2024 2:00:23 pm:

CryptoQuant suggests Bitcoin might see a price rebound based on the MVRV indicator, currently around 2.1. A breakthrough of the downtrend could lead to a sharp price increase. BTC is trading at $64,396, down 0.84% in the last 24 hours.

Bitcoin faces strong resistance at $65,000, with a potential price rise if it breaks above this level and targets $66,000 and $74,000. Support near $63,000 and the 200-day SMAs at $62,700 may help push prices higher in case of a drop.

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