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1. Bitcoin (BTC) 🔹 Why?: Often referred to as digital gold, Bitcoin remains the most reliable cryptocurrency for long-term holding. With its limited supply and growing institutional interest, Bitcoin’s value could skyrocket further in 2024. 🔹 Potential: With new institutional adoption and Bitcoin ETFs, BTC could aim for the $100,000 mark in 2024. 2. Ethereum (ETH) 🔹 Why?: As the backbone of smart contracts and DeFi, Ethereum will continue to grow with major updates that improve its scalabili
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📊 Will Bitcoin Continue its Rise? – Metilli Analysis
Bitcoin is currently trading at $63,237.66. After reaching a 24-hour high of $63,500.84, there’s been a slight pullback, which looks like a healthy correction. The short-term moving average (MA7) is at $63,181.35, above the longer-term moving averages, indicating that the upward trend could continue.
🔍 Technical Indicators:
• Support Levels: The key support level right now is at $62,225.57. As long as this holds, further upward movement seems likely. • Resistance Levels: The resistance at $63,500.84 is critical. If it breaks, the price could quickly test $65,000 and beyond.
📈 Recommendation: Given the current price movements and indicators, the uptrend seems strong. However, keep a close eye on the $63,500 resistance! If Bitcoin breaks through this level, we could see a swift move toward $65,000 in the short term.
Hey everyone, excited to announce that I’ll be sharing valuable insights and updates on the crypto markets here regularly! Stay tuned for in-depth analysis and exclusive content. Plus, we’ll soon be launching a Telegram group where our team will provide even more detailed crypto insights and discussions. Let’s connect and grow together!
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