Wolfe Research: Crypto Market Presents a Buying Opportunity, Next Key Resistance for Bitcoin at $100,000
Jinse Finance reported, citing market news released by Bloomberg analyst Walter Bloomberg: Wolfe Research stated that now is a good time to buy cryptocurrencies on dips. There is currently a clear divergence between bulls and bears in the cryptocurrency market, which is creating a potential buying opportunity. The institution still expects bitcoin's interim bottom to be around $75,000, even after bitcoin rebounds and climbs back above $90,000. However, Wolfe also pointed out that inflows into bitcoin ETFs remain weak, and digital assets overall are still generally under downward pressure. From a technical perspective, the crypto market has returned to a key long-term support area, which has served as a turning point for the market many times in the past. Momentum indicators are improving, and this bitcoin rebound is also seen as constructive. Wolfe believes the next major test is near the 50-day moving average at $101,000, while $100,000 is the main psychological threshold.
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.
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