Unveiling Crypto Market Insights - What's next for Bitcoin
GM Market Enthusiasts!
We’re excited to be back and posting! In today’s update, we’ll dive into Bitcoin’s recent price action and discuss what might be next for the world’s leading cryptocurrency.
Price Action
After trading within a range from March to October, Bitcoin began a strong uptrend, climbing steadily for over 10 weeks without any meaningful corrections. The first notable correction occurred in the second half of December, with Bitcoin retracing just under 20% from its local top of 108K, reached on December 17th. Currently, price action appears to have established key levels of support around 90k and resistance around 108k. On January 20th, Bitcoin tested resistance once again, briefly reaching a new all-time high (ATH) of 109.4K on Bitstamp, but failed to close above 108K.
Will Bitcoin trade within this range of 90K–108K? Could it break through resistance and continue price discovery? Or are we looking at the potential for a larger correction?
We’d love to hear your thoughts! Share your predictions and analysis in the comments below.
We’re excited to be back and posting! In today’s update, we’ll dive into Bitcoin’s recent price action and discuss what might be next for the world’s leading cryptocurrency.
Price Action
After trading within a range from March to October, Bitcoin began a strong uptrend, climbing steadily for over 10 weeks without any meaningful corrections. The first notable correction occurred in the second half of December, with Bitcoin retracing just under 20% from its local top of 108K, reached on December 17th. Currently, price action appears to have established key levels of support around 90k and resistance around 108k. On January 20th, Bitcoin tested resistance once again, briefly reaching a new all-time high (ATH) of 109.4K on Bitstamp, but failed to close above 108K.
Will Bitcoin trade within this range of 90K–108K? Could it break through resistance and continue price discovery? Or are we looking at the potential for a larger correction?
We’d love to hear your thoughts! Share your predictions and analysis in the comments below.
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This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.
This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.
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