Bitcoin bulls are waiting for it to break $100,000 – Here’s why – BitRss – Crypto World News
AMB Crypto 59 minutes ago 56 Bitcoin faced significant resistance between $98,000 and $100,000. Reductions in foreign exchange reserves and capital inflows signaled a decline in selling pressure, tipping the scales in favor of a long-term bullish trend.
Bitcoin (BTC)’s journey back to the psychological $100,000 price level has encountered stiff resistance. At the time of writing, prices were hovering around the main pennant supply zone between $98,000 and $100,000.
This key resistance zone proved difficult for the bulls as it was vigorously defended by short position takers.
Breaking through this resistance level is essential for Bitcoin to continue its upward trajectory and avoid a possible bearish reversal.
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