3 min readBITCOIN (BTC/USD):
Bitcoin appears to have narrowly missed the highly anticipated $100,000.00 mark. As the market evaluates a potential price adjustment and rebalancing, we could see the price dip lower before resuming its upward trajectory.
A closer look at the technicals on the weekly timeframe reveals the potential for the price to revisit the previous resistance area, which is now acting as support. Additionally, the RSI indicator shows that the market is temporarily overbought, as it is trading above the 70% threshold.
Author
Risk Disclaimer Disclaimer: The information provided does not constitute, in any way, a solicitation or inducement to buy or sell any of our products.
Any material presented under this section of our website is not intended and should not be considered investment research or investment advice. Any Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. The recipient acknowledges that he/she is solely responsible for any trading decisions taken.
Risk warning: Our products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. If you do not understand the risks involved, or if you have any questions regarding our products, you should seek independent financial and/or legal advice if necessary. Past performance of a financial product does not prejudge in any way their future performance.
