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Bitcoin Hits A Wall At $100k... For Now

From tickmill.com

Bitcoin prices remain softer this week with the futures market down from the fresh record highs printed last week. BTC surged to highs of just above the $100k mark before selling kicked in to take price down to current levels around mid 96s. With many linking the current decline to profit taking automated selling as BTC tests $100k for the first time, the outlook remains bullish for now and price continues to hold just below the level. The near-term risk is that failure at the $100k mark forms a double top formation, suggesting room for a correction lower. Indeed, recent price action can also be viewed as a sloping ... (full story)

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  • Category: Technical Analysis