"Bitcoin (BTC) Attempts to Reclaim $100,000... Attention on the 97.8K Resistance Line"
Summary
- Bitcoin is trading between the $94,657 support line and the $97,828 resistance line, and it is reported to be maintaining a strong trend.
- Finbold analyzed that Bitcoin may repeat box range adjustments in this rally without a clear breakout.
- Recently, Bitcoin fell to the $75,000 level due to the aftermath of the Trump-induced tariff war, but it successfully rebounded and reclaimed $97,000.
Bitcoin (BTC) is aiming to recover $100,000, but there is an analysis suggesting that limited price movement may continue in the short term.
On the 2nd (local time), the technology magazine Finbold reported, "Bitcoin is currently trading at $96,739, with the main support line estimated at $94,657 and the resistance line at $97,828." It added, "Currently, BTC is showing relatively stable movement in the $96,000 to $97,000 range over the past 24 hours."
Bitcoin successfully rebounded after falling to the $75,000 level last month due to the aftermath of the Trump-induced tariff war. On the 1st, Bitcoin showed a strong trend by reclaiming $97,000 for the first time in several months.
Finbold analyzed, "Bitcoin has continued its upward trend in the past by repeating box range adjustments after short-term surges," and "This rally may also continue to fluctuate within the current range unless there is a clear breakout."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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