Bitcoin Daily Market Analysis (D) - 18/10/2024
- Bitcoin is approaching a critical resistance zone between 68k and 70k. At this level, the market is waiting for a clear sign of price rejection. If sellers fail to actively engage and the market sustains its bullish momentum, we could witness a continued rally, with the next significant target being the 75k region.
- However, if sellers step in with sufficient force, triggering strong selling pressure, Bitcoin may reverse course, and the next major support level is likely to be found around 59k. This support zone could act as a potential stabilizing point in case of a market pullback. Traders should keep an eye on price action at these key levels to assess future market direction.
- However, if sellers step in with sufficient force, triggering strong selling pressure, Bitcoin may reverse course, and the next major support level is likely to be found around 59k. This support zone could act as a potential stabilizing point in case of a market pullback. Traders should keep an eye on price action at these key levels to assess future market direction.
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