Summary
- An analyst at BRN analyzed that Bitcoin (BTC) forms a strong support level at $100,000.
- He added that sell orders exist below $110,000 at about 3400 BTC, indicating weak resistance.
- BTC is reported to be trading at $100,175.03 on Binance, up about 5.89%.
According to Decrypt, a cryptocurrency-focused media outlet, on the 5th (local time), Valentin Fournier, an analyst at digital asset analysis firm BRN, analyzed that "buy orders for Bitcoin (BTC) at $100,000 exceed 4600 BTC, forming a strong support level."
He added, "Sell orders exist below $110,000 at about 3400 BTC, which is a weaker resistance compared to the barrier when it previously surpassed $100,000."
Meanwhile, BTC is trading at $100,175.03, up 5.89% from the previous day, based on the Binance Tether (USDT) market as of 00:29 on the 6th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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