
Jakarta, Pintu News – Bitcoin saw a decent price increase today, although weekend trading activity remained quiet. Market activity was limited, but the short-term price action still provides something for traders to watch.
From a technical perspective, Bitcoin (BTC) recently experienced a bounce from the mid-December low, followed by a price pullback. The pullback did not turn into a strong rally, which means the market is still in a correction phase and has yet to start a major uptrend.
Currently, Bitcoin (BTC) seems to be forming a complex sideways pattern. This usually indicates that the market has not yet decided on a clear direction, with buyers and sellers waiting for stronger signals.
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To confirm a stronger recovery, Bitcoin (BTC) needs to move past the $89,560 level. If it manages to break the level, it will indicate that the last price drawdown may be over and will likely be followed by a stronger upside movement.
If Bitcoin (BTC) fails to break higher, the possibility of a price drop is still open. Some traders are eyeing the $85,000 to $86,800 range as a potential support zone where buyers might step back in.
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In the short term, Bitcoin (BTC) will probably continue to move sideways with minor fluctuations up and down. Stronger rallies will likely require higher trading volumes and a clear breakout above resistance levels.
For now, the market remains calm, with no major trend changes confirmed. Investors continue to watch closely to see if Bitcoin (BTC) builds up enough strength to move higher or tests lower support before the next big move.
With market conditions still full of uncertainty, market participants should stay alert to any signal changes that might affect the price of Bitcoin (BTC). Careful observation will help in making the right investment decisions amidst price fluctuations.
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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 have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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