Bitcoin’s Potential Resistance at $84,000
As per Odaily, CryptoQuant analysts noted in their latest market report on April 10 that Bitcoin (BTC) could face a hurdle around $84,000 if its price continues to climb. Should the cryptocurrency manage to surpass this critical level, analysts anticipate a swift surge towards the next resistance barrier at $96,000. Conversely, if Bitcoin struggles to breach the upcoming resistance, it may consolidate around the $80,000 mark in the near future.
📈 Key Levels and Price Predictions for Bitcoin
Bitcoin’s current trajectory suggests a crucial resistance level at $84,000, posing a significant challenge for bulls. If BTC successfully breaks above this point, it could open the door for a potential rally towards $96,000. However, failure to overcome this barrier might lead to a consolidation phase around $80,000, creating a crucial support zone.
📉 Why Bitcoin Might Face Resistance
The $84,000 resistance level for Bitcoin is based on historical price patterns and market sentiment. Traders and analysts are closely monitoring this key level, as it could trigger profit-taking and selling pressure. Additionally, psychological factors play a role, with investors potentially viewing $84,000 as a major hurdle to overcome.
⚡ What’s Next for Bitcoin?
Looking ahead, Bitcoin’s ability to breach $84,000 will be a critical indicator of market strength. If bulls succeed in pushing the price above this resistance, the path towards $96,000 could be expedited. Conversely, a failure to surpass $84,000 might lead to a short-term consolidation phase.
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