Crypto Blog
Bitcoin’s price is still struggling to rise above the $100K level after just wicking above it last week.
Yet, while BTC briefly traded above $100K last week, it has not been able to continue higher or stay above this level. Meanwhile, as the market structure remains bullish and the RSI clearly shows bullish momentum, it is likely that Bitcoin will break out higher soon.Looking at the 4-hour chart, the asset has been making higher highs and lows over the past few weeks, forming a rather narrow ascending channel.
While Bitcoin’s price is slowly rising toward the $100K level again, and probably higher, futures market traders should be over the moon with optimism. However, last week’s quick rise above the $100K level and the flash crash afterward have cooled down the futures market sentiment significantly.
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