Bitcoin (BTC) is once again proving its status as a leading force in the financial world. Since Bitcoin ETFs launched in January 2024, these financial products have attracted more than $30 billion in net inflows in just 250 trading days. These numbers are in stark contrast to gold ETFs, which took nearly 5,000 days to reach the $50 billion mark. This illustrates the rapid adoption of digital assets, driven by growing institutional interest.
Yet Bitcoin is currently at a decisive point. The price has recently moved considerably, with traders seeing both opportunities and risks. While the fundamentals remain strong thanks to the increasing popularity of ETFs, near-term volatility brings uncertainty.
Below is an exclusive technical analysis of Bitcoin, sourced from our Discord community, where our analysts share the latest insights into the crypto market every day.
Technical analysis of bitcoin (BTC)
Crypto Insiders’ analysts are closely monitoring the current BTC-USD market structure. Despite the recent volatility, they are optimistic about the continuation of the bullish trend. One of the analysts recently commented in Discord:
“The week starts with a red opening, where bitcoin has already experienced significant movements. After breaking out above $100,000 last week, the price saw a sharp correction towards $92,000.
Since then, however, BTC has recovered strongly and is once again moving towards $100,000. Currently, the price is in the support zone around $98,000.
Holding this zone is crucial for the continuation of the current uptrend. If this support holds, BTC could recover to $102,000 and possibly rise towards $105,000.”
Important levels to keep an eye on:
- Support Level: $98,000 – Crucial to maintain bullish momentum.
- Resistance levels: $100,000 (first barrier) and $102,000 (key point for further upside).
- Target: $105,000 if the uptrend continues.
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Disclaimer: This article is based on insights from the Crypto-Insiders Discord community and is not intended as financial advice. Crypto trading involves risks. Always do your own research and consult a financial advisor before making a decision.
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