Best Crypto to Buy Now as Bitcoin Bulls Cling to $104.5K
The post Best Crypto to Buy Now as Bitcoin Bulls Cling to $104.5K appeared on BitcoinEthereumNews.com. The Iran-Israel war and Donald Trump’s signal that he may or may not engage in the act of striking Iran has, once again, put the market into disarray. The Bitcoin price dropped by 2.4% in the last 24 hours, and bulls are clinging to the $104.5K mark. Popular crypto analyst Crypto Tony has said that this level is important for Bitcoin to gain short-term strength. Once again, the current market has shown the importance of keeping investments diversified, which is why finding the best crypto to buy now has become crucial. Bitcoin Price Analysis – Has the BTC Price Stagnated? Geopolitical tensions and the recent indecisive FOMC meeting have not allowed Bitcoin to fully embrace a growth trajectory. Sure, there are instances on the intraday charts where multiple consecutive green candles appear, but momentum breaks as profit-takers jump into the action. The recent chart clearly shows that a symmetrical pattern has emerged. A classic consolidation pattern, which has been forming since May, indicates that a breakout is imminent. Volumes are low, as the base of this triangle shows, suggesting that investors are waiting for a catalyst to make a move. There is an air of indecision around it. It can’t be said whether the market is bearish or bullish, as BTC hasn’t closed outside this pattern. That said, if the BTC price were to break above the upper trendline with high volume, it could aim for the $112K to $115K range. However, if the apex crypto breaks below the lower trendline, it could retest $100K and even crash to the $96K level. So, to put it simply: yes, Bitcoin is going through a short-term stagnation and is trading inside a compressed volatility range. This often happens before a volatile breakout ensues, but given the current market conditions, there aren’t clear…
The post Best Crypto to Buy Now as Bitcoin Bulls Cling to $104.5K appeared on BitcoinEthereumNews.com.
The Iran-Israel war and Donald Trump’s signal that he may or may not engage in the act of striking Iran has, once again, put the market into disarray. The Bitcoin price dropped by 2.4% in the last 24 hours, and bulls are clinging to the $104.5K mark. Popular crypto analyst Crypto Tony has said that this level is important for Bitcoin to gain short-term strength. Once again, the current market has shown the importance of keeping investments diversified, which is why finding the best crypto to buy now has become crucial. Bitcoin Price Analysis – Has the BTC Price Stagnated? Geopolitical tensions and the recent indecisive FOMC meeting have not allowed Bitcoin to fully embrace a growth trajectory. Sure, there are instances on the intraday charts where multiple consecutive green candles appear, but momentum breaks as profit-takers jump into the action. The recent chart clearly shows that a symmetrical pattern has emerged. A classic consolidation pattern, which has been forming since May, indicates that a breakout is imminent. Volumes are low, as the base of this triangle shows, suggesting that investors are waiting for a catalyst to make a move. There is an air of indecision around it. It can’t be said whether the market is bearish or bullish, as BTC hasn’t closed outside this pattern. That said, if the BTC price were to break above the upper trendline with high volume, it could aim for the $112K to $115K range. However, if the apex crypto breaks below the lower trendline, it could retest $100K and even crash to the $96K level. So, to put it simply: yes, Bitcoin is going through a short-term stagnation and is trading inside a compressed volatility range. This often happens before a volatile breakout ensues, but given the current market conditions, there aren’t clear…
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