Analyst: $108,000 to $118,000 may become a key support zone for Bitcoin
ChainCatcher reported that crypto analyst CrediBULL Crypto stated that bitcoin has broken through its previous high, entering a new phase towards $150,000, but a pullback to the $108,000 to $118,000 range cannot be ruled out. If the price retraces to this area, it should become the strongest demand zone, as most entities will attempt to close losing short positions at breakeven or buy back their positions after the market structure has broken upwards.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
South Korean stocks dropped over 1%
"Big short" Michael Burry: The AI bubble may burst "earlier than expected," replacing short positions with put options to increase leverage
Michael Burry suggested that the AI bubble could burst as early as next summer and has replaced all his short positions on Micron, Nebius, SOXX semiconductor ETF, and Palantir with put options to obtain lower cost and higher leveraged short exposure. He believes the AI boom is built on the unproven assumption of "sustained capital expenditure," and once revenues disappoint, capital will quickly flee.
Variational open interest has exceeded $2 billions.
Janus Henderson Macro Head Says Market Is Near Its Top but Cannot Say When
Crypto prices
More
