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Jakarta, Pintu News – Bitcoin (BTC) continues to face intense selling pressure, currently on the verge of a critical support zone. With prices approaching $102,000, this phase may be the decider of whether Bitcoin (BTC) will experience a major recovery or continue to slide.
According to crypto analyst Crypto Candy, Bitcoin (BTC) attempted to defend the $107,000-$108,000 support zone but failed, and a close below that level signals a change in market dynamics. The zone is now potentially an area of strong resistance, making it difficult for Bitcoin (BTC) to climb back up.
Also Read: Will Bitcoin (BTC) Experience a Sharp Drop Before Surging Again? Here’s the Analysis!
Super฿ro, in his latest daily update on Bitcoin (BTC), emphasized the importance of the $102,000 support zone. This zone is considered ideal for issuing leveraged long positions. This process is necessary to eliminate less powerful investors thus allowing a more stable bullish trend to develop.

Furthermore, Super฿ro states that once the cleanup phase is over, Bitcoin (BTC) could experience a sharp rebound. The trigger would be the closing of short positions by traders who were caught up in wrong market predictions. This will increase buying pressure and trigger a rapid price increase, restoring the levels lost earlier.
Currently, the price of Bitcoin (BTC) is hovering around $104,000, showing a decline of over 3% in the last 24 hours. Bitcoin (BTC) trading volume has also increased, rising by over 79% in the same period. The coming days will be crucial in determining the future direction of Bitcoin (BTC).
Also Read: Dash price soars, hitting $100 after almost 4 years!
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
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