As a seasoned researcher with over a decade of experience in the volatile world of cryptocurrencies, I’ve learned to dance with market fluctuations like a pro. Today, the sellers have taken the lead, but I’m not too concerned. I’ve seen Bitcoin (BTC) dip and soar more times than I can count.
Sellers have seized the initiative today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 4.58% since yesterday.
On an hourly timeframe, the primary cryptocurrency’s price approaches the nearby resistance zone more closely than it does the support level. If the value returns to $99,000, a quick attempt at surpassing the psychological threshold of $100,000 may follow.
On a day-to-day scale, the trend stays optimistic since the price hovers close to the $99,800 mark. Should it burst through this level, it’s likely we’ll witness Bitcoin surpassing $100,000 again.
From my perspective as a researcher, I would advise holding off on making a move until the end of our daily price tracking. If we reach approximately $99,800, it could signal potential continued growth for the bulls.
However, if the false breakout happens, traders may witness a correction move to the $92,000 area.
Bitcoin is trading at $98,038 at press time.
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2024-12-06 17:21