Is it more likely that BTC will reach $53,500 or $40,500 first?
For the First Time in 12.4 Years, Bitcoin Addresses Holding 100 BTC Have Been Activated. Bitcoin whales have recently become more active, purchasing more of the digital commodity in anticipation of a price increase. As a result, static addresses are once again being used.
Bullish Scenario: BTC was around $48,000 resistance level and couldn’t break through, thus it retraced back to price levels like $43,517 and $42,286. We might retest the $44,674 price level in the coming days and after the retest if the $47,050 resistance level breaks, we could see a move towards $49,426, $51,554 and above.
Bearish Scenario: Since a few weeks, BTC has been in a uptrend channel on a lower time like 4hour(4H),daily,etc but we can’t ignore the bearish completely and so failure to hold the support at $42,286 could lead to a drop to $40,107 and lower.
Bullish Scenario: BTC was around $48,000 resistance level and couldn’t break through, thus it retraced back to price levels like $43,517 and $42,286. We might retest the $44,674 price level in the coming days and after the retest if the $47,050 resistance level breaks, we could see a move towards $49,426, $51,554 and above.
Bearish Scenario: Since a few weeks, BTC has been in a uptrend channel on a lower time like 4hour(4H),daily,etc but we can’t ignore the bearish completely and so failure to hold the support at $42,286 could lead to a drop to $40,107 and lower.