Analyst Says Bitcoin Price Could Retest Substantially Below $100,000 If This Level Fails

Quick Summary:

Bitcoin Successfully Closes Above Confluent Resistance According to technical analysis from crypto analyst Rekt Capital, Bitcoin has managed a daily close above a significant confluent resistance level.

Since breaking out of this confluence area, Bitcoin has managed to push towards $106,000, but candlestick formations are starting to reveal a slowdown in momentum.

This intense volatility has allowed Bitcoin to achieve a daily close above a key confluent resistance level that had capped its price action for the past month.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin Btc price Btcusd Descending triangle Btc Bitcoin price Bitcoin news Hammer Candlestick BTCUSDT Bitcoin Doji Candlestick BTC news

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-20 @ 16:00:10 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 453 words

Reading Time: 3 minutes read

Sentences: 65 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 25288714

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

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Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 10 hours ago

Coverage Areas: United Kingdom

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