Bitcoin

Resistance

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-major-resistance-2" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Major Resistance</a><br></p>
<p style="text-align: justify">This year’s second half hasn’t met market expectations, leaving cryptocurrencies in a stagnant state. Investors are seeing a pattern of gradual rises followed by sharp declines, causing demoralization. The focal question is, what lies ahead for Bitcoin and altcoins, and how should <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> navigate these uncertain waters?</p>
<h2 id="bitcoin-s-current-struggle">Bitcoin’s Current Struggle</h2>
<p style="text-align: justify">Just three hours post daily close, Bitcoin surged to $60,259 but quickly retraced to $59,500, highlighting significant volume deficiencies. The BTCUSDT trading pair on <a href="https://en.bitcoinhaber.net/binance-user-loses-70000-in-crypto-heist" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> saw a marked decrease from over $2 billion earlier in the week to half a billion dollars. Despite a brief pause in altcoins’ losing streak, Bitcoin’s battle to reclaim the $60,000 mark continues, much to the disappointment of those eyeing $70,000. The dip to $49,000 previously allowed investors to buy at lower prices, who now stand to profit from the current levels.</p>
<h2 id="what-hurdles-lie-ahead">What Hurdles Lie Ahead?</h2>
<p style="text-align: justify">To advance, Bitcoin must first overcome the $61,800 region. Achieving this would shift focus to subsequent targets of $63,000 and $65,600. Turning the $67,800 mark into a support level could set the stage for new highs above $71,800 and $73,000. Bitcoin’s price has been oscillating within a narrow 25% range for 172 days, a trend that needs to break for further progress.</p>
<p style="text-align: justify">The stagnant Bitcoin price has affected the broader cryptocurrency market. This psychological stagnation has driven some altcoins to new all-time lows. Despite this, some altcoins have performed well in the last 24 hours. KLAY Coin surged by 14%, HNT Coin by over 10%, and has seen a weekly gain of 21%. Other notable gainers include RUNE, LDO, GALA, INJ, and BNB Coin among the top 100 cryptocurrencies.</p>
<h2 id="investment-strategies">Investment Strategies</h2>
<p style="text-align: justify">– Monitor Bitcoin’s ability to surpass $61,800 for potential upward targets.<br> – Consider taking profits at current levels if you purchased during the recent dip.<br> – Diversify holdings by investing in altcoins showing resilience or growth, such as KLAY and HNT.<br> – Stay aware of the overall market volume, which has dropped to levels reminiscent of bear markets.</p>
<p style="text-align: justify">In conclusion, the cryptocurrency market, led by Bitcoin, faces significant resistance levels. Investors need to stay vigilant and adapt their strategies based on market movements to navigate these challenging times effectively.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-major-resistance-2" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Major Resistance</a></h5>

Bitcoin Faces Major Resistance

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