CandleFocus Bitcoin's $100K Psychological Barrier May Require Multiple Attacks: Van Straten
2024-12-03
Author: Content Editor
This article discusses the psychological barriers that investors and traders in the crypto market face, particularly when it comes to round numbers. The focus is on bitcoin and its struggle to surpass the $100,000 price level. Historical analysis shows that bitcoin typically takes multiple attempts to breach these psychological barriers, with previous levels such as $10,000 and $70,000 requiring the price to close within 2% of the level multiple times before breaking through. However, the pattern changed after the election of Donald Trump, with bitcoin quickly surpassing $80,000 and $90,000. The article questions whether the same pattern will apply to the $100,000 level or if it will take multiple attempts once again.
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