Don’t Be Fooled: Crypto Markets Still Likely to See Intense Pullback
The crypto markets incurred a notable uptrend today that was catalyzed by Bitcoin’s rise to highs of nearly $9,000 before it incurred a slight influx of selling pressure that caused BTC to dip slightly lower. Because the future of the aggregated crypto market hinges on where Bitcoin goes next, it is imperative to note that the crypto is currently pushing up against a key technical resistance level that could halt the ongoing uptrend.
Dyme – a popular Bitcoin advocate on Twitter – recently noted that BTC is pushing up against its 200-day moving average, which could mean that it will face a massive rejection at this level. How Bitcoin responds to this level in the coming few days will likely set the tone for its mid-term trend, subsequently giving guidance to the aggregated crypto market.
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$ 64486
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