Bitcoin (BTC) has broken through the resistance level of $70,000 and reached new record highs above $76,000. Traders are now looking for the next resistance level, which appears to be around $90,000 based on a trendline drawn from previous peaks. This trendline could act as a target for sell orders or profit-taking. The recent breakout and positive momentum indicate that the resistance at $90,000 could be tested soon. However, a move below the weekly low of $66,824 would invalidate the bullish outlook. In the options market, potential resistance levels are seen at $80,000 and $100,000. Meanwhile, Solana's SOL token has seen a significant increase in its BTC-denominated price (SOL/BTC), suggesting a potential bullish resolution to months of rangebound activity. A breakout from the triangular consolidation would indicate a shift in market sentiment.
- Content Editor ( coindesk.com )
- 2024-11-08
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