Bitcoin price is ‘likely starting the next push up’ if $42K holds as support
Multiple technical indicators suggest that BTC is preparing for a breakout, despite concerns about rising inflation and conflict in Ukraine.
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Multiple technical indicators suggest that BTC is preparing for a breakout, despite concerns about rising inflation and conflict in Ukraine.
Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.
Analysts express mixed views on BTC’s short-term prospects, but most agree that $42,000 is the level to watch.
BTC bulls want to confirm this week’s trend reversal, but analysts warn that Bitcoin price is in a “profit-taking” zone where $45,000 is expected to stand as resistance.
BTC’s journey into the $43,000 to $46,000 price range could be another sign that the multi-month correction has ended.
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Bulls seek to flip $44,000 to support and analysts forecast further upside for BTC, calling the asset “the Amazon of our time.”
Bitcoin’s repeat visit to the sub-$37,000 range is re-enforcing analysts’ view that BTC is either set for a lengthy consolidation or further downside.
After earlier spells of consolidation, the tide turned on cryptocurrencies this afternoon, with markets finding themselves in a red wave. Quant managed to evade the wave, climbing by as much…
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