CandleFocus Bitcoin (BTC) in 'Pain' Mode, Top Analyst Explains
2024-12-13
Author: Content Editor
The current price action of Bitcoin is displaying considerable volatility, with both resistance and support levels being breached. The asset has now stabilized within a certain value range, and attention may be directed towards the Point of Control (PoC) and support levels around $98,000. External factors, particularly the performance of conventional financial markets, have had a limiting effect on Bitcoin's price. The significance of the low during the New York session is important, as staying above this level may indicate increasing passive bids and support for an upward move. Traders should monitor whether Bitcoin can maintain its position within the value area and pay attention to key levels and broader market cues for a clearer direction.
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