Bitcoin’s Bull Run Hits a Wall: Key Resistance Threatens Further Gains
Bitcoin's rally slams into stubborn resistance—what's next for the flagship crypto?
The Technical Standoff
BTC faces a classic market dilemma: bullish momentum meets hardened resistance levels that refuse to break. Each upward push gets met with equal force downward, creating a tension that's got traders watching every tick.
Market psychology plays tough here—investors see the resistance holding and start questioning the sustainability of recent gains. It's that moment where conviction gets tested and weak hands start sweating.
The Institutional Perspective
Meanwhile, traditional finance veterans watch from the sidelines, probably muttering something about 'irrational exuberance' while secretly checking their own potential entry points. Because nothing says sophisticated investing like waiting for a dip after mocking the asset class for years.
This resistance battle isn't just about charts—it's about narrative control. Will Bitcoin power through and prove the skeptics wrong again, or will this become another 'I told you so' moment for the finance traditionalists? The market's holding its breath.
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Bitcoin
$123,210 prices recently dropped to $119,651, although they currently hover above the $120,900 mark. As we approach the weekend, such significant dips are not favorable for cryptocurrencies. Last week’s weak ETF inflows likely contributed to this downward trend. Additionally, Trump’s threat to cut imports from China has also had an impact on the market. In this scenario, what are the analysts saying?
Bitcoin Analysis
Jelle expresses dissatisfaction with Bitcoin, which continues to fluctuate beneath a crucial resistance level. Despite waiting for the break of a descending wedge, Bitcoin’s testing of sub-$120,000 levels is concerning. Leading altcoins such as BNB and SOL have temporarily lost key thresholds, with continued closures beneath these levels potentially leading to greater losses.
still fluctuates below this resistance and slightly retracts, as discussed. Currently, it hovers above the 4-hour 50EMA. Wait for a breakout from the descending wedge formation. Patience remains my strategy regardless.”
Sherpa advises those expecting a rally to wait for closures above designated resistance areas to avoid disappointment. Previously, even after being tested, the key region was not permanently surpassed, leading to substantial losses.
If the pattern repeats, we might see deeper lows in altcoins.
Cryptocurrency Market Insights
At the time of writing, TRUMP mentions increased pressure for an agreement on Ukraine. We may see more threats or sanctions on Russia soon. However, Trump’s recent statements reflect a shift to a more positive tone compared to his previous ones about providing weapons to obliterate Russia.
Data from the U.S. is unavailable due to a shutdown, potentially lasting until the month ends, requiring the Fed to make decisions based on current data. This situation suggests a heightened possibility of an interest rate cut at month’s end. Bitcoin’s loss of momentum post-all-time high and its decline to around $117,000 poses the largest threat for cryptocurrencies.
If the market fails to maintain its rise during all-time high periods, a downturn begins, and weakening momentum is unfavorable for the overall cryptocurrency market.
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