Bitcoin Poised for Bullish Move, Glassnode Co-Founders Indicate
- The Bitcoin Fundamental Index (BFI) signals a potential breakout, indicating possible market rallies.
- Bitcoin is expected to reach $110,000 if it surpasses the resistance at $106,000.
- Current trading price for Bitcoin is approximately $104,797.
- A decline in short-term holders selling at losses suggests a more bullish outlook.
- If Bitcoin falls below the $101,500-$102,500 support range, it may correct to as low as $97,200.
Glassnode co-founders highlight that the BFI’s positive signals could lead to Bitcoin reaching targets between $108,000 and $110,000 if key resistance levels are overcome. Currently trading near $104,797, maintaining support above $101,500 is crucial to avoid potential corrections.
Source (2.6)https://dailyhodl.com/2025/01/23/bitcoin-signaling-readiness-to-launch-bullish-move-according-to-glassnode-co-founders-here-are-their-targets/?rand=59076
