Bitcoin is at Critical Resistance Level: Rise Expectation in 3 Steps
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Despite the recent downward trend in the markets, Bitcoin (BTC) continues to give positive signals.
While analysts see Bitcoin's $70,000 level as a critical resistance, they are optimistic that new highs can be seen if this level is exceeded. Historical data shows that exceeding the $70,000 level took Bitcoin to a high of $73,750.07. Currently, Bitcoin is trading 5.8% below this peak, and experts think this threshold may be crossed again.
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Short Term Price Movements
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Over the past month, Bitcoin's price increased by 2.11%, reaching $71,946.46.
The $71,000 level is considered a critical threshold and analysts predict that minimal resistance will be encountered above this level. Breaking the $70,000 and $71,000 levels is seen as an important step for Bitcoin to reach new highs.
