Experts predict a future positive increase as the BTC price faces resistance. A two-week examination of the Bitcoin Super Trend shows encouraging trends. Investors should be patient as greater prices are anticipated.
After dropping from the $30 price level, the price of Bitcoin (BTC) has been fluctuating in the red zones since the beginning of this month. However, experts recently predicted an impending bullish surge in the cryptocurrency market in a two-week Bitcoin Super Trend research.
A technical analyst for Bitcoin going by the handle CryptoCon on Twitter claims that the Super Trend, which focuses on finding significant resistance levels, points to two important elements that could result in higher prices.
First off, there is a welcome amount of resistance in the market surrounding the trend flip. This resistance, in the analyst’s opinion, is a good indicator and a crucial component of the regular market cycle. It implies that cryptocurrency is going through a required phase of consolidation before beginning a fresh upward trend.
“Meeting resistance around the trend flip is healthy, and it is happening now,” said the well-known crypto analyst.
The expert also claimed that big price rallies frequently occur after trend resistance based on historical evidence. Previous Bitcoin market cycles have shown the presence of resistance before a significant bull run, supporting the idea that the current resistance is a sign of higher prices.
Investors are encouraged to show patience and refrain from making rash judgments while the market tests key resistance levels. CryptoCon tweeted, “Higher prices are coming,” recommending investors to be firm in the face of transient swings.
Experts and crypto analysts stated that when BTC was trading below $19k earlier this year, it was the greatest moment to start accumulating Bitcoin sats because there might not be another lower price point. Since then, the coin has climbed past $30k, reaching one of its recent highs.
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