Summary
- Bitcoin is on the rise, attracting the attention of investors.
- Julio Moreno, a senior analyst at CryptoQuant, mentioned the possibility of Bitcoin facing resistance at $91,000 to $92,000.
- The current market's relative strength index is below 40, indicating a bear market, and traders' realized prices may act as resistance.
Bitcoin (BTC), the leading cryptocurrency, is on the rise, sparking interest in how far this upward trend can continue. However, some analysts suggest that Bitcoin may face additional resistance.
On the 21st (local time), Julio Moreno, a senior analyst at CryptoQuant, stated on X (formerly Twitter) that "an analysis of traders' realized prices suggests that Bitcoin could face resistance at $91,000 to $92,000."
Moreno explained, "While traders' realized prices act as support during bull markets, they serve as resistance during bear markets. Given that the current relative strength index is below 40, indicating a bear market, traders' realized prices are likely to act as resistance."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
