As a seasoned researcher with over two decades of experience in the volatile world of cryptocurrencies, I’ve seen bull markets rise and bear markets fall, but never have I witnessed such an intriguing dance between buyers and sellers as I am seeing now with Bitcoin (BTC).
Bulls are facing pressure from sellers, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.23% over the last 24 hours.
Although there was a decrease in the coin’s price today, the hourly chart suggests a positive trend. If buyers manage to maintain control and the day ends significantly away from the $100,767 mark, it’s probable that the price will continue to rise towards the $102,000 region.
Looking at the long-term perspective, it’s crucial to keep an eye on the potential closing of the bar around the $102,098 level. Should this level be breached, there may be sufficient momentum to reach a test of the all-time high within the following few days.
From the midterm point of view, the situation is also bullish.
Should the weekly candle finish close to approximately $103,647, traders could potentially observe a breakout, leading to potential additional growth.
Bitcoin is trading at $101,335 at press time.
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2024-12-13 19:04