Bitcoin is trading just below a long-term resistance level that has marked key turning points in past market cycles. The asset stood at around $112,100 at press time, down slightly over the past 24 hours and down 8% over the past week.
Though short-term performance is weak, some technical and on-chain indicators are pointing to possible strength building in the background.
Log Curve and RSI Near Crucial Levels
Bitcoin’s price is approaching the top of its long-term logarithmic curve, a level that has acted as a ceiling in previous cycles. According to EtherNasyonaL, BTC “hasn’t even broken above the logarithmic curve resistance yet,” and the market tends to gain speed when this resistance is crossed.
Bitcoin Top Not Is In. $BTC hasn’t even broken above the logarithmic curve resistance yet, so there’s no doubt the parabolic run will continue.
As in previous cycles, the market gained momentum quickly when this curve was broken.
Moreover, the RSI isn’t even in the… pic.tw
We współpracy z: https://cryptopotato.com/this-key-barrier-could-trigger-another-massive-bitcoin-rally/
