The post Bitcoin Consolidation Continues; When Will the $100K Magnet Activate? appeared first on Coinpedia Fintech News
The start of the month turned out to be bullish for the crypto markets and the BTC price rally has made a strong move towards resistance. The token has triggered a minor jump of less than 2% since the early trading hours but has remained stuck within the key resistance zone. This has raised concern about whether the Bitcoin price rally has faded or the bulls are accumulating more strength so that the next bullish push could lift the levels above the current ATH close to $74,000.
The median at $66,817 is acting as strong support, which suggests a retest of the upper limit could be imminent. The price hovered within a narrow range for a while and initiated a bullish rebound from the lower support of the decisive triangle. However, after hitting the upper obstacle, the bullish vigour faded, making it difficult for the price to break past the resistance.
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