Bitcoin price descending channel and loss of momentum could turn $60K to resistance

Bitcoin (BTC) appears to lack the strength to retest the $67,000 all-time high that it reached on Oct. 20 and this is causing investors to question whether or not the bullish moment has faded. Even with the price facing these hurdles, it’s still premature to call the $58,000 support level test the beginning of a descending channel.

Bitcoin price in USD at Coinbase. Source: TradingView

Among the factors limiting the rally is the regulatory uncertainty in the United States. Anne Termine, a…


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