Bitcoin is currently trading around the $105,000 mark after a brief uptick to $107,000 in the past 24 hours. Notably, this marks the second time Bitcoin has rejected around $107,000 in the past few days. Despite this volatility, Bitcoin managed to close last week’s candle above a key resistance level that had capped its price action for weeks. This close, recorded just above the red horizontal line at $103,000, has introduced confidence in the continuation of the uptrend, and points to the bulls still in control of Bitcoin’s price action. Bitcoin Weekly Closes Above Range – First Bullish Step Current Bitcoin price action shows that bullish investors and buyers are still controlling the momentum behind the largest cryptocurrency and, in essence, the rest of the crypto market. Notably, Bitcoin initially experienced a brief surge to nearly $107,000 over the weekend before retreating. Related Reading: Bitcoin Macro Trend Oscillator Shows When To Expect The Price Top This price movement was followed by a dip to around $102,000, with the back-and-forth most likely being influenced by factors such as Moody’s downgrade of U.S. deb ..
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