menu
techminis

A naukri.com initiative

google-web-stories
Home

>

Blockchain News

>

Bitcoin Mu...
source image

Newsbtc

3d

read

223

img
dot

Image Credit: Newsbtc

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

  • Bitcoin is currently holding above $108,000 with bulls maintaining momentum, but on-chain data indicates fragility in this position.
  • Two crucial support levels at $106,738 and $98,566 have become vital for bulls to defend as they represent clusters of addresses holding significant amounts of Bitcoin.
  • On-chain data shows a slowing sell pressure among large holders, with Bitcoin witnessing net outflows from exchanges for the fifth consecutive week.
  • For Bitcoin to reach new highs, it needs to break a weekly resistance level just under $109,000 and achieve a weekly close above $108,890 to secure a more bullish stance.

Read Full Article

like

13 Likes

For uninterrupted reading, download the app