CandleFocus Bitcoin Tests 1.6x Golden Ratio Multiplier Resistance
2025-01-02
Author: Content Editor
The article discusses the recent rejection of Bitcoin (BTC) at the 1.6x Golden Ratio Multiplier resistance level, which coincides with its previous all-time high. The cryptocurrency is currently testing its resilience against this barrier, with the current all-time high around $108,000. If BTC breaks through this resistance, it could trigger a rally towards the 2x multiplier resistance at $135,000. The article also mentions that BTC prices have been rising, reaching above $97,000, and that there is optimism in the crypto market despite the hindrances in price momentum. The confidence in the market was boosted by President-elect Donald Trump's commitment to expanding the US role in the space with a top-tier team. Additionally, the article mentions minimal activity in BTC ETFs during the holiday season, with $5.3 million in inflows and $700 million in outflows, but notes that these funds collectively manage over $100 billion in assets.
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