Bitcoin Takes a Tumble
In a round of price gymnastics that left many crypto enthusiasts clutching their pearls, Bitcoin (BTC) saw an unexpected price drop from $11,823 to $11,102 over the span of just 48 hours. While the long-term trajectory suggests we’re still on the upward escalator, some pesky variables decided to jump in the way.
Resistance is Not Just Futile
First up, we have the good old resistance levels. Bitcoin has been flirting with the $11,800 to $12,500 resistance zone like it’s a bad Tinder date, trying its hardest to break free. However, history shows that every time BTC attempts to break this stubborn ceiling, it gets pushed back down faster than you can say “cryptocurrency volatility”.
- August: Failed.
- February: Nope.
- July: Wrong again.
Seems like this zone has become Bitcoin’s permanent “no-fly zone.”
CME Gap: The Boogeyman Under the Bed
When analysts start talking about the CME gap, it’s a bit like calling out the Boogeyman. Every time Bitcoin clambers up past $10,000, folks start hinting at potential nightmares that lurk below at $9,700. Some believe a drop below $10,900 might incite this famous (and infamous) gap fill.
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