CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Crypto Potato 2025-01-25 13:54:42

Bitcoin Price Analysis: What Lies Ahead on BTC’s Path to $120K?

Bitcoin’s price has been gradually rising over the past few weeks, paving its way toward a new record high, which arrived on Monday. However, it lost some momentum, and the question is what will happen next. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily timeframe, the asset rebounded from the $92K support level a couple of weeks ago. The $100K level has been broken to the upside recently, leading to a gradual rise toward the $110K level and potentially higher. With the RSI indicating that the momentum is still bullish, it is very likely that the market will rally toward the $120K level soon. The 4-Hour Chart Looking at the 4-hour chart, the recent choppy price action can be clearly witnessed. The asset has been trapped between the $100K and $108K levels over the last ten days or so. This has led to a lot of uncertainty surrounding the market trend in the near future. Yet, the overall market structure still remains bullish, and a breakout above the $108K resistance level is more probable than a bearish reversal. On-Chain Analysis By Edris Derakhshi (TradingRage) Bitcoin Exchange Whale Ratio As Bitcoin’s price has been consolidating recently after a significant rally in the past few months, investors are wondering whether the bull market is over. Analyzing on-chain metrics can offer useful clues to reach a conclusion about the current state of the market. This chart presents the exchange whale ratio, which measures the ratio of exchange deposits by whales to total deposits. Therefore, it can be seen as a proxy of selling pressure by large investors. As the chart demonstrates, the whale ratio metric has been rising recently, but it is still showing values far less than those witnessed earlier when BTC was trading around $70K. Therefore, more upside can still be expected if sufficient demand is present. The post Bitcoin Price Analysis: What Lies Ahead on BTC’s Path to $120K? appeared first on CryptoPotato .

Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine