Bitcoin Weekly Closes Above Range High Despite Crash From $107,000, Why The Bulls Are Still In Charge 📈
Bitcoin's price action remains bullish as it holds above a crucial resistance level, closing last week's candle above $103,000 despite fluctuations. Currently trading at around $105,000, Bitcoin's resilience has fostered confidence in a continued uptrend.
The market responded to various factors, including Moody's downgrade of U.S. debt and potential Federal Reserve interest rate cuts. Despite this, Bitcoin's price direction suggests bullish dominance.
Analysts like Rekt Capital note that Bitcoin's current dip may signal a post-breakout retest. If confirmed, it could propel Bitcoin towards new all-time highs. As of now, Bitcoin trades at $105,555, showing a 2.9% daily increase.
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