Bitcoin Price Rejection At $99,000: Temporary Or End Of The Bull Rally?

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Bitcoin Price Rejection At $99,000: Temporary Or End Of The Bull Rally? - NewsBTC

Quick Summary:

That cycle top was on the 0.236 Fib level of the cycle, which is a level that has rejected rallies during subsequent cycles. This Fib level rejected the Bitcoin price uptrend on November 22 and is acting as this 1st Real Resistance of the Bull Cycle.’ TradingShot stated this is the first major rejection level a bull cycle faces before the eventual market top.

From a technical analysis perspective, the analyst explained what could be causing this Bitcoin price rejection at the $99,000 level. TradingShot highlighted a Fibonacci channel that has been going on through the last three cycles, including this one.

Crypto analyst TradingShot recently discussed the Bitcoin price rejection at $99,000, providing insights into whether this was temporary or marked the end of the bull rally.