📈 Weekend Reflections: Will #Bitcoin Break $71,500 Resistance?
Despite multiple attempts, #BTC has yet to breach the $71,500 mark after 5 days of trying. However, the price remains resilient, hovering just 4.32% below this crucial level. Bulls are showing determination, suggesting a potential breakthrough above $72K.
Given the weekend's typically low trading activity, the order book may not provide significant insights. Yet, it's essential to remember that weekend prices are often unreliable.
I anticipate continued sideways movement between $71,500 and $69K today. However, Sunday night's prices could offer clues about Monday's direction.
#SPOT currently shows little interest at these levels. Positive news, like the approval of #BTC sales by banks or asset managers, could reignite enthusiasm and drive prices higher. Another pre-halving surge seems more probable, followed by a cooling-off period and potential altcoin rallies.
Anticipate any drops to be limited to -20% or -25%, swiftly capitalized on by savvy investors awaiting entry opportunities. 🚀
Disclaimer: This stellar analysis comes straight from the insightful Ualifi Araújo ( X - ualifiaraujo ), a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial advice—just a thrilling ride in the crypto world! 🚀
