Bitcoin Struggles at $84,000 Resistance Amid Market Uncertainty
- Bitcoin (BTC) has failed to reclaim the $84,000 resistance level, falling by 4% to test another support zone.
- The cryptocurrency retraced over 11% in the past week, hitting a four-month low of $76,600.
- BTC’s price remains between $80,000 and $84,000 but hasn’t surpassed the upper limit for four days.
- A significant supply barrier exists at the $95,000 range with 1.2 million investors holding 726,000 BTC.
- Analysts suggest BTC could surge by 9% to $90,000 if it breaks above the current resistance level.
Bitcoin’s recent performance highlights its struggle to overcome the $84,000 resistance. Despite attempts to regain this level, BTC remains in a consolidation phase between $80,000 and $84,000. As of now, Bitcoin trades at approximately $80,810.
Source (2.6)https://www.newsbtc.com/news/bitcoin/bitcoin-faces-rejection-at-84000-but-analysts-show-2020-similarities-recovery-ahead/?rand=52377
