Analyst: Bitcoin faces significant resistance this week but bullish sentiment remains
According to analyst Army Duck on X, Bitcoin has shown a long upper shadow hammer pattern this week, and an increase in trading volume indicates active buying. Despite facing numerous obstacles, it is expected that Bitcoin will continue to attempt to break through its historical highs. The results of the U.S. presidential election may affect market dynamics, but the basic trend is bullish. On a daily basis, after experiencing continuous declines, Bitcoin shows signs of rebounding and is expected to show a stop-fall positive line; short-term volatility provides opportunities for technical traders. Main focus should be on the liquidation area between 69350 and 72750 where there are many pending short orders which could become key reversal points.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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