Bitcoin Price Movement Faces Key Resistance Levels
- The price of Bitcoin has been fluctuating around the $116,000 level over the weekend.
- Analyst Joao Wedson suggests a breakout above $118,000 could signal a new bull run for Bitcoin.
- Key resistance is identified at $117,000 due to on-chain indicators like the CVDD Channel and Fibonacci-Adjusted Market Mean Price.
- As of now, Bitcoin’s price is approximately $115,905 with no significant change in the last day.
Bitcoin’s current price action around the $116,000 mark raises questions about its ability to continue its upward trend without surpassing critical resistance levels identified by analysts. The market awaits a decisive move above $118,000 to confirm renewed bullish momentum.
With Bitcoin’s price stable at around $115,905 and key resistance at $117,000, investors look for a breakout to signal potential gains ahead. Source
