Bitcoin retested its all-time high (ATH) area near $73,777 last night but faced a rejection, resulting in a slight retracement to its current trading level around $71,900. This price action is a pivotal point, as a successful retest of the ATH could either:
Break Through – capturing short sellers' stop losses above this level and potentially flipping the ATH area from resistance into new support. This could allow Bitcoin to push higher, continuing its upward momentum.
Reject and Retrace – if the ATH level holds as resistance, we may see a pullback to lower support zones before the next move.
Given Bitcoin's proximity to this critical level, traders should monitor the reaction closely, as a sustained breakout could signal strength in the overall market, whereas a rejection may indicate more consolidation ahead.$BTC
