Editor's PiCK
[Analysis] "Bitcoin (BTC) Trades Above Key Support Levels... Expecting Further Rise with Little Resistance"
Summary
- Bitcoin is reported to be trading stably above important support levels.
- It was emphasized that there is no strong resistance line, suggesting the possibility of further rise.
- Bitcoin is reported to be trading at $100,737, up 1.2% from the previous day.
Bitcoin (BTC) is trading above important support levels, and with little resistance to upward movement, further gains are expected, according to analysis.
On the 7th, cryptocurrency analyst Ali Martinez stated on X (formerly Twitter), "There appears to be no strong resistance line that will block further upward movement," adding, "There is a small sell wall composed of 100,000 Bitcoins in the range of $104,700 to $105,770."
The analyst added, "Currently, Bitcoin is trading stably above the support line located between $95,400 and $98,400," noting that "investors have purchased 1.77 million BTC in this range."
Meanwhile, as of 23:03 on this day, BTC is trading at $100,737 on the Binance USDT market, up 1.2% from the previous day.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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