CandleFocus Bitcoin Technical Analysis: BTC Eyes 6-Digit Range Despite Resistance
2024-11-29
Author: Content Editor
The article discusses the current state of Bitcoin's price and provides technical analysis for short-term, medium-term, and long-term traders. It highlights that Bitcoin has experienced a bullish rally, pushing its market cap to $1.95 trillion. The technical indicators suggest a strong upward momentum, but significant resistance is expected at the $100,000 mark. Traders are advised to focus on breakouts or pullbacks in the $96,500-$99,000 range for short-term trading and dips toward $92,000-$94,000 for long-term holding. While the overall outlook is bullish, caution is advised as Bitcoin approaches the $100,000 resistance, as there is a possibility of a slowdown or correction.
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