Today's Bitcoin Analysis
Last night, BlackRock saw a net inflow of 12,000 Bitcoins, which has created significant support in the current market.
However, the market price has not continued to rise, with pressure above and a sideways structure forming. Once in a sideways trend, there will be profit-taking and differing opinions leading to turnover.
Therefore, I tend to see a high-level consolidation market.
Intraday support is around 71800-71500, while resistance is in the 72800-73000 range.
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