Popular social media cryptocurrency trader and analyst, Ali Charts, highlighted Bitcoin’s key support and resistance levels, as the apex crypto trades just short of the $70,000 mark on Monday morning.

What Happened: In a Monday tweet, Ali Charts outlined the critical levels for Bitcoin. He noted that Bitcoin has found a stable base at $68,300. However, if it breaks below this level, the next support range lies between $65,250 and $63,150, where 760,000 wallets hold 520,000 BTC.

On a positive note, Ali Charts emphasized that securing $70,320 as support is crucial for Bitcoin’s next upward move.

See Also: $150,000 Bitcoin Boom Expected In 2024, Says Hedge Fund Manager: ‘Bitcoin Is The King, It Is The Dominant Token’

Why It Matters: This analysis comes at a time when Bitcoin struggles to decisively break past its previous all-time high. Bitcoin recently surged back to $70,000, for a bullish first quarter and its highest-ever monthly close.

As such, Ali Charts’ analysis provides valuable insights for traders navigating this uncertain market environment.

What’s Next: Bitcoin’s price trajectory and the impact of the Bitcoin halving are expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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Image created using artificial intelligence with Midjourney.