Bitcoin Structure Tightens: One Break Above This Zone Could Ignite A Run To $...
Bitcoin finds itself at a critical crossroads, hovering between two major price zones that could define its next big move. Buyers and sellers are locked in a tight battle, and the market now waits for a decisive break. A push above key resistance could open the door to $107,000, while weakness at support risks a deeper slide toward $71,000. Bounce Scenario: A Return Toward The Pink Box And Descending Trendline Kamile Uray, in her latest update on Bitcoin, noted that BTC failed to hold above the $90,720 level on the hourly chart, triggering the expected decline. The first immediate support....
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Following a fresh wave of bearish pressure on Friday, December 5, the price of Bitcoin has struggled beneath the psychological 90,000 level for much of the weekend. However, the latest on-chain data suggests that the premier cryptocurrency might be readying for its next healthy upward move. BTC SOPR Drops To Lowest Level Since Early 2024 In a December 6 post on the X platform, CryptoOnchain hypothesized that a local bottom appears to be forming for the price of Bitcoin. According to the market pundit, the selling pressure, especially amongst long-term holders, seems to be fading off at the....
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Bitcoin must overcome a big hurdle at $52,000 for any chance to break new highs in the short term. Bitcoin's (BTC) price has been consolidating in the previous weeks as the sentiment and momentum have slowed to a crawl. That's very natural, as it's also impossible to throw a six every time. Therefore, consolidation and correction are necessary for the market to recharge before resuming the uptrend. Several reasons were given for such a corrective move in the previous weeks, the primary ones being whales selling in addition to macroeconomic factors, particularly the surge in Treasury....