Some coins have come back to the green zone, while others keep falling, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has set a new all-time high, going up by 1.85%.
In simpler terms, during an hourly analysis, Bitcoin’s price briefly surged beyond its immediate resistance at $109,323, but this surge might have been a misleading move. If the daily closing price veers away from that level, there’s a possibility that the downward trend could extend towards the $104,000 region.
Over a larger time period, traders should concentrate on whether the daily candle closes above or below the potential resistance level of $108,364. If it strays significantly away from this level, there could be an opportunity for a correction towards the price range of $102,000 to $104,000.
Looking at things from a midpoint perspective, the situation seems much the same. Yet, it’s premature to speculate about long-term outcomes since several days lie ahead before we reach the end of the week and the closing of this particular phase.
But if the breakout of the upper line occurs, growth is likely to continue to the new peaks.
Bitcoin is trading at $106,512 at press time.
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2025-01-20 19:11