As a seasoned analyst with over two decades of experience in the financial markets, I’ve witnessed my fair share of market fluctuations, and let me tell you, the current Bitcoin (BTC) situation is quite intriguing. The recent 1.81% surge over the past 24 hours has caught my attention, especially given its proximity to the local resistance at $92,159.
Buyers keep dominating sellers, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 1.81% over the last 24 hours.
As an analyst, I find myself observing that the current hourly Bitcoin price hovers around the nearby resistance level of approximately $92,159. Should it manage to breach this point, potential growth could propel us towards a quick test of the $93,000 mark.
Looking at a long-term perspective, it’s important to consider if the bar will close above the $91,909 level. If bulls manage to maintain control and keep the rate above this point, there could be enough momentum built up for a possible move towards a potential new record high.
From the midterm point of view, the price of BTC keeps rising after the bullish candle’s closure.
As there are no reversal signals yet, traders may expect a test of $94,000 by the end of the week.
Bitcoin is trading at $92,173 at press time.
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2024-11-19 17:38