As a seasoned crypto investor with battle-tested nerves and a portfolio that has weathered multiple market cycles, I find myself cautiously optimistic about the current state of affairs. The green zone across the top 10 coins on CoinMarketCap is reminiscent of the sun peeking through the storm clouds, offering a glimmer of hope amidst the volatility.
The adjustment hasn’t persisted for a while, since most of the leading 10 cryptocurrencies are now showing positive growth, as indicated by CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has risen by 1.75% over the last 24 hours.
On an hourly timeframe, Bitcoin’s price is more near the potential resistance point rather than the support. Should buying pressure persist, it could lead to a breach, which might then trigger additional gains, potentially reaching new highs.
In the grand scheme of things, I find it crucial to keep an eye on the closing price of each day’s bar, specifically in relation to the $76,420 mark.
If the candle finishes at a distance from the current price point, there’s a possibility for a price adjustment towards the $75,000 area to occur soon.
Looking from a midterm perspective, we haven’t seen any indications suggesting a reversal just yet. If the weekly candle ends close to its highest point, traders might observe continued growth towards the $80,000 region and potentially beyond.
Bitcoin is trading at $76,093 at press time.
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2024-11-08 17:51