๐จ Technical Analysis: Bitcoin Finds Its Strong First Support at $100,000!
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๐ฅ What's happening?
* Recent market analyses indicate that the nearest strong support area for Bitcoin is in the price range between $100,000 and $107,000.
* If this level fails to hold, deeper and stronger support lies in the price range between $92,000 and $93,000.
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๐ก Why is this development important?
* Support levels: These levels represent areas where there is significant buying demand, preventing the price from dropping further.
* Psychological value: The $100,000 level is considered not only a technical support but also holds enormous psychological value for investors, as it represents a milestone in Bitcoin's journey.
* Possible scenario: If selling pressure continues, these levels will serve as a real test of market strength. Holding above $100,000 will restore confidence to investors, while breaking it could lead to a drop towards the $92,000 level before the price finds a new solid ground.
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โ Do you think Bitcoin will be able to hold above the $100,000 level in any upcoming correction?
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