Bitcoin $83,315.11 While the price moves at the level of 83.2 thousand dollars, the gold is traded around 3 thousand dollars. Historical data show that Bitcoin follows a similar way to the output process of gold in the 1970s. Graphic analysis and investor evaluations indicate that Bitcoin may be in a critical turn. Market players think that if the resistance levels are broken, a significant wave of rise can begin.
Historical similarity of Bitcoin and gold
In the 1970s, gold experienced a major increase in value after passing through a long consolidation process. Similarly, Bitcoin first entered the accumulation process, then increased the interest of investor with price fluctuations. Experts, Bitcoin’s current levels, gold rise to the period of similarity, he says.
Technical data show that Bitcoin is currently at a critical level before the rise. According to the analysis, the price of Bitcoin has approached the resistance levels that have been tested many times. When the level of 84.1 thousand dollars is exceeded, a trend of exit, similar to what gold lived in the past, may occur.
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The interest of corporate investors also supports the thesis that Bitcoin has experienced a similar process. The fact that some strategic initiatives in the USA are aimed at the Bitcoin reserve are among the factors that strengthen investor sensitivity.
Technical Analysis and Critical Resistance Levels
Graphic analyzes show that Bitcoin’s current price level reaches a technically significant resistance zone. Experts, 84.1 thousand dollars over the level of the rise trend can gain speed, he says. In the short term, 86-88 thousand dollars are likely to be tested.
Another remarkable element in technical analysis is the rise pennant formation. This pattern, which is seen in 1 -hour graphics, shows that buyers are still dominant. Analyst Captain Faibik emphasizes that Bitcoin should exceed $ 84.1 thousand in order to continue the rise trend.
Macroeconomic developments and corporate investor movements are among the elements that will determine the course of this process. Increased institutional demand and the development of regulations in favor of Bitcoin may support the upward movement of the price. However, considering the volatility of Bitcoin, investors should be careful.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
