After creating a new all-time high in January 2025, Bitcoin has been consolidating for a long time. Recently, after long consolidating period, it started going up again. Today we will look at the price movements of BTC and reflect on where it could go next.
Last week, the King of Cryptocurrencies, BTC was hovering above the 94400$ level. BTC started its renewed uptrend only a few weeks ago after a nice reversal, At start of this week, BTC was slowly fluctuating. But suddenly, BTC started trying to break the resistance at 97600$ and became successful at this at the third try. Due the breakthrough at the level of 97600$, BTC directly went up to the 106000$ level, which is clearly a strong resistance zone.
After the rejection at this resistance, BTC started falling. It recently lost the bullish trendline that was created over the week. It is still consolidating as of now. BTC is just above 101400$ currently. It needs to beat the upper resistance as soon as possible. This is ultimately a 7.1% gain in value over a time span of seven days.
All Screenshots are taken from Coingecko
No words from this article should be taken as financial advice.
0.000 SRY