Bitcoin

<ul><li>Bitcoin showcases resilience, hinting at stability even amid global market fluctuations.</li><li>On-chain trend indicator, Profit/Loss Momentum, turns green, indicating possibly stronger market sentiment than perceived.</li><li>Positioned above $27,800 and aligned with the 100 hourly SMA, Bitcoin signals a potential for an upcoming major rally.</li></ul>Amidst a backdrop of global turbulence, Bitcoin&#39;s recent performance paints a picture of noteworthy resilience, catching the keen eye of market observers and seasoned traders. The world&#39;s leading digital currency suggests potential stability and even growth in the face of uncertainty.Bitcoin encountered resistance at the <a href="https://www.forbes.com/advisor/au/investing/cryptocurrency/crypto-news-australia/" rel="noopener noreferrer nofollow">$28,500 </a>threshold, resulting in a modest decline to the vicinity of $27,185. Nevertheless, this temporary setback didn&#39;t interfere with the cryptocurrency&#39;s momentum for long. It quickly regained ground, surpassing the $27,400 and $27,500 resistance zones. Currently, Bitcoin lingers tantalizingly close to the $28,000 threshold, possibly hinting at an impending rally.Several factors could be influencing this resilience. Of particular interest is the Profit/Loss Momentum for Short-Term Holders. This on-chain trend indicator has notably shifted back into the green. When Bitcoin&#39;s price previously dipped from $29k to $26k according to Checkmate, an on-chain analyst , many market watchers braced for a bleak outcome. However, this recent shift in momentum might suggest a more robust market sentiment than initially thought.Read full article <a href="https://cryptotale.org/resistance-at-28500-is-bitcoin-poised-for-a-mega-rally/" rel="noopener noreferrer nofollow">at CryptoTale.</a>

Resistance at $28,500: Is Bitcoin Poised for a Mega Rally?

CryptoTale

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