Bitcoin has made history by breaking the long-awaited $100K barrier! This is a huge milestone for the cryptocurrency market. However, with this achievement comes a lot of uncertainty.
Let's break down what this means for Bitcoin:
1. Psychological Resistance:
* $100K has been a major psychological resistance level for Bitcoin. It has acted as a magnet, pulling the price back four times before.
* Now that we've broken through, we can expect a potential retest of this level.
2. Potential Retest:
* We want to see the price retest the $100K level and fail to break it. This would confirm that the bulls are in control.
* If the price breaks back below $94K, it could signal a final correction before the next bull run.
What to do now?
* Don't rush into trades: This setup needs more confirmation before we can make any definitive predictions.
* Watch for a Market Structure Break (MSB): An MSB would confirm the end of the correction and signal a potential new uptrend.
Remember:
* Cryptocurrency investing is risky. Always do your own research and only invest what you can afford to lose.
* Stay calm and don't panic. The market is volatile, and it's important to stay patient.
We'll keep you updated on the latest developments, so stay tuned!
Please note: This is not financial advice. Please do your own research before making any investment decisions.
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