Six days into Bitcoin pushing against the all-important $25,000 resistance, and nothing is giving yet.
Three likely scenarios
The scenarios are pretty clear. Bitcoin probably does one of three things. The first 2 bull cases are that bitcoin breaks through the resistance in the next few days. The other is that bitcoin trends sideways in a range for an indefinite period before piercing through, and the final bear scenario is that the price breaks down and bitcoin falls precipitously down to below $20,000.
Probably for many analysts the bear scenario is the most popular, and actually, this wouldn’t be a bad thing long term for bitcoin either. It would perhaps enable a retest of the base and provide the building of much better price structure going forward.
Bitcoin a good longer term risk
Many indicators are suggesting that the bitcoin bottom is in, and even if it isn’t, there really must be far more upside compared with downside to come going into the bitcoin halving event.
For today,
We współpracy z: https://cryptodaily.co.uk/2023/02/bitcoin-tracks-sideways-at-resistance
