Summary
- Crypto asset analyst Justin Bennett analyzed that if Bitcoin fails to reclaim the $106,000 resistance, the next support will be $101,000.
- He added that if the $101,000 level is also breached, the following supports will be $97,000 and $92,000, in that order.
- He commented that although Bitcoin is showing a bullish trend, caution should be exercised due to short-term price volatility.
On the 30th (local time), according to the cryptocurrency-focused media outlet Daily Hodl, crypto asset analyst Justin Bennett analyzed the short-term support levels for Bitcoin (BTC).
He stated, "If Bitcoin fails to reclaim the major resistance level at $106,000, the next support will be $101,000," and added, "If this price level is also breached, the subsequent supports will be $97,000 and $92,000, respectively."
Bennett emphasized that although Bitcoin is showing bullish momentum recently, it is necessary to prepare for short-term price volatility.
Meanwhile, at 00:25 on the 31st, Bitcoin was trading at $105,591.60 on the Binance Tether (USDT) market, down 1.68% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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