Bitcoin experienced a significant uptick of 2.91% in the last 24 hours, positioning its current price at $84,142. Despite this surge, a decline in consumer confidence raises concerns about potential shifts in economic activity, which may adversely affect the demand for speculative assets like Bitcoin. Analysts observe that the BTC price faces substantial resistance within the $84,000 to $85,000 range, while maintaining crucial support at $75,000. Breaking the $85,000 barrier could lead to further upward momentum towards $90,000. Market participants are advised to keep a vigilant eye on liquidity levels and institutional inflow trends. For those considering a long-term strategy, accumulating positions during retracements to the $75,000 to $78,000 zone, which is fortified by strong support, may present a prudent opportunity.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024