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Bitcoin Faces Critical $71K Support Level; Could Drop Below $65K If Breached

GateNews
Price PredictionMarket Analysis
BTC-2.92%
Michael van de Poppe, founder of MN Trading Capital, warned on X on May 31 that Bitcoin faces a critical support level at $71,000. If this level breaks, BTC could fall below $65,000, with potential downside to the 200-day moving average near $61,000, Poppe said. He noted the current structure differs from February's decline, as previous resistance failed to hold as support. If the $71,000 support holds, Poppe identifies $61,000–$65,000 as a strong buying opportunity for years ahead, with next resistance at $76,600.
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