The Relative Strength Index (RSI) currently stands at 41, signaling a neutral market sentiment with no clear buying or selling dominance. Bitcoin faces a strong resistance point at the 50-day Exponential Moving Average (EMA) of $69,689, making it difficult for the price to surpass this level.
Bitcoin is being supported by an upward trendline around the $68,500 mark, which is bolstering the bullish perspective. However, a potential drop below $68,556 could trigger intense selling pressure, resulting in a notable price decline.