Bitcoin Retraces, But $100K Still Possible, Memecoins to Rally?
- Bitcoin maintains bullish momentum above $90,000.
- Analyst assesses BTC’s potential to retrace before reaching $100K.
- Retracing before surging to $100K is not sacrosanct for Bitcoin.
Bitcoin (BTC) remains bullish despite retracing slightly from its new all-time high of $93,483. The cryptocurrency pulled back after reaching new heights but is holding above $90,000 amid speculation of a potential pullback before heading toward $100,000.
In a recent podcast, a cryptocurrency analyst highlighted the potential implications of Bitcoin continuing upward without retesting recent support of around $87,000. The analyst explained the risks involved, citing Bitcoin’s potential to eventually drop to the identified support even after claiming the $100,000 landmark.
The analyst identified $100,000 as a psychological level where the cryptocurrency could experience a pullback. He believes that retesting the $87,000 support before surging to $100,000 would reduce Bitcoin’s retracement risk. A dip from the current price would allow bulls to reinvest and accumulate more.
Bullish Sentiment Remains
The crypto analyst believes the overall Bitcoin sentiment remains bulli…
The post Bitcoin Retraces, But $100K Still Possible, Memecoins to Rally? appeared first on Coin Edition.
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Bitcoin Retraces, But $100K Still Possible, Memecoins to Rally?
- Bitcoin maintains bullish momentum above $90,000.
- Analyst assesses BTC’s potential to retrace before reaching $100K.
- Retracing before surging to $100K is not sacrosanct for Bitcoin.
Bitcoin (BTC) remains bullish despite retracing slightly from its new all-time high of $93,483. The cryptocurrency pulled back after reaching new heights but is holding above $90,000 amid speculation of a potential pullback before heading toward $100,000.
In a recent podcast, a cryptocurrency analyst highlighted the potential implications of Bitcoin continuing upward without retesting recent support of around $87,000. The analyst explained the risks involved, citing Bitcoin’s potential to eventually drop to the identified support even after claiming the $100,000 landmark.
The analyst identified $100,000 as a psychological level where the cryptocurrency could experience a pullback. He believes that retesting the $87,000 support before surging to $100,000 would reduce Bitcoin’s retracement risk. A dip from the current price would allow bulls to reinvest and accumulate more.
Bullish Sentiment Remains
The crypto analyst believes the overall Bitcoin sentiment remains bulli…
The post Bitcoin Retraces, But $100K Still Possible, Memecoins to Rally? appeared first on Coin Edition.
Read More