Bitcoin (BTC) has been hovering mostly this week between $104,000 (approximately 152 million won) and $105,000 (approximately 153 million won). While some analysts view this price range as a strong resistance line, others interpret it as a 'flag consolidation' period before a potential bullish trend continues.
The flag pattern is a consolidation period following a sharp rise, and if the upper trend line is broken, there is a high possibility that the previous upward trend will continue. Current Bitcoin charts are showing signs of following this trend.
Some traders suggest a potential short-term correction, predicting a possible decline to around $90,000 (approximately 131 million won). However, on-chain data indicates that profit-taking selling pressure is not yet strong enough to break the upward momentum.
Internal market signals suggest that current selling pressure is unlikely to transform into a powerful downward pressure. Instead, if profit-taking somewhat subsides, there is growing expectation that a technical bullish market entry could be realized. Despite recent adjustments, the continued buying interest anticipating further increases suggests that the medium to long-term Bitcoin outlook remains valid.
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