As a seasoned crypto investor with over a decade of experience in this volatile market, I’ve learned to navigate the ebb and flow of digital assets like a proverbial duck gliding on water. The recent dip in Bitcoin’s price, down by nearly 2% over the last day, is nothing new under the sun for me.
Sellers have returned to the game, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has declined by almost 2% over the last day.
On an hourly basis, Bitcoin’s price appears to have breached its immediate support at $103,287, but it might be a false breakout. Keep in mind the significance of the end-of-day candlestick when assessing the overall trend.
If an event occurs close to the specified point, there’s a possibility of observing additional adjustments around the $102,000 range.
Over a longer period, the primary cryptocurrency’s price is quite distant from its usual support and resistance levels. If current trends persist until the end of the day, it’s most probable that we’ll see continued trading within a tight range between roughly $104,000 and $106,000.
Looking at the midterm perspective, it would be prudent to concentrate on whether the weekly candles close above or below the $105,149 level. In case of a false breakout, there might be a potential fall towards the $100,000 range.
Bitcoin is trading at $104,807 at press time.
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2024-12-18 16:56