— But is it about to face resistance?🤔🤔🤔
Bitcoin is currently valued at $110,000, being only 5% lower than its all-time high, and the bulls are trying to regain their momentum.⬆️⬆️
Many market analysts foresee that Bitcoin will soon make a clear breakout above key levels, following weeks of significant price increases and consolidation. A new stage in price discovery and the start of a strong bullish phase could be indicated if the value manages to surpass the barrier of $105,000. However, there is considerable selling pressure at current levels. Some analysts believe that Bitcoin's recent stability may be an indicator of possible exhaustion, given the challenge the cryptocurrency faces to break upward. Daan commented on the recent trend, noting that the price of Bitcoin has outperformed that of stocks following the macroeconomic drama related to tariffs. Nevertheless, markets continued to rise as trade concerns eased, while Bitcoin remained under pressure at resistance. According to Daan, his 'line in the sand' for long-term investments is $90,000. A structural drop would be indicated if Bitcoin plummeted below that threshold, which has not occurred so far in this cycle.
He remains cautiously optimistic as long as Bitcoin stays above that level, although he acknowledges that the risk-reward ratio was more favorable when Bitcoin was 20% to 30% more affordable. Additionally, he warns that Bitcoin could be pulled down in a decline in the short term if stocks correct after their strong increases. Several companies have increased by 30% to 50% in just one month.
The next move will determine whether the price of Bitcoin continues to rise or begins a larger decline, as it currently shows relative weakness around resistance.
#BinanceTGEAlayaAI #EthereumSecurityInitiative #BTC☀ #LaunchpadWars #CryptoRegulation
