Bitcoin (BTC) Faces Crucial Phase: Importance of This Level Increases!

  • Bitcoin (BTC), struggling to overcome minor resistance, succumbs to selling pressure and pulls back to lower levels.
  • The leader of cryptocurrencies, which has been unable to chart its course for a while, continues to create tension in altcoins.
  • Investors are closely watching Bitcoin’s volatile price movements and wondering if it will rise again and what levels should be considered for BTC.

Bitcoin (BTC) struggles to overcome minor resistance, succumbs to selling pressure, and pulls back to lower levels, leaving investors wondering about its next move.

Investors’ eyes on Bitcoin!

Bitcoin, which hasn’t drawn a good picture since the completion of halving, continues to be the focus of crypto investors. Especially with the pressure it creates in altcoins, the admiral of cryptocurrencies seems to tire the market for a while longer. As of the writing of the news, BTC, which changes hands at $63,354, could move towards $64,534 – $67,091 – $69,017 – $71,289 and $73,684 respectively with the start of the halving effect or a possible positive news. If the ATH is broken, a new bull run will begin for BTC.

Potential Scenarios for Bitcoin

The continuation of geopolitical problems, the arrival of fud news, or the inability to start the halving excitement, could increase sales-oriented transactions in BTC. In such a scenario, declines to $63,000 – $62,000 – $60,810 – $59,009 – $56,622 and $54,966 respectively could be followed. The range of $62,000 – $63,000 will be critical for the short/medium-term price structure. A heated bear-bull battle can be expected in this region.

Conclusion

Bitcoin’s struggle to overcome minor resistance and its pullback to lower levels has left investors in a state of uncertainty. The continuation of geopolitical problems and the arrival of fud news could further increase the selling pressure on BTC. However, with the start of the halving effect or a possible positive news, Bitcoin could potentially move towards higher levels. Investors are advised to do their own research before making any investment decisions.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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