Analysis: BTC may retest current closing price and intraday record between $106,000 and $108,000

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ODAILY
12-25
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Odaily Report: According to Tyler Richey, a technical analyst and co-editor at Sevens Report Research, Bitcoin's trading volume has been steadily declining since it surpassed $100,000 earlier this month, indicating a weakening of bullish sentiment. He stated that "if Bitcoin breaks above the congestion resistance between $100,000 and $101,500 on the daily chart, it would be highly likely to retest the current closing price and intraday record between $106,000 and $108,000. From there, failure to break new highs would be a bearish signal, with the $90,000 support level coming back into focus, while new highs would reignite Bitcoin's bullish technical signals, with a target of $118,000." (Morningstar)

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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