Traders are bored as Bitcoin price fights rejection from $69,000, but most analysts say it is the last resistance before new all-time highs.
) is on the cusp of entering price discovery, contingent on breaching the critical resistance at its previous all-time high of $69,000, according to crypto analysts.
BTC hit its peak of around $69,000 during the 2021 bull run. This level was tested again on March 5, following theDespite several attempts to break through, Bitcoin hasCrypto analyst Daan Crypto Trades says that the fight to breach old-time highs is “never an easy fight,” and it usually takes time before this is achieved.that supply needs to"dry up" around the resistance zone and coins must transition from impatient to patient holders, which usually leads to favorable outcomes.
Other crypto analysts share this bullish sentiment. “Bitcoin’s market structure remains firmly bullish!” crypto analyst Jelle in a May 30 post on X, adding that the price has been in a “steady uptrend for well over a year now, consolidating right below the current all-time highs.”that the BTC price was retesting a key support level after “breaking out from the falling wedge” on the daily time frame.BTC/USD daily chart. Source:Pseudonymous crypto analyst CryptoCon described Bitcoin’s current low volatility around the previous highs as healthy price action.
“This is only half the time we saw in August - October 202, which was one of the least volatile periods in Bitcoin’s history. These times of low volatility are crucial to build support for the next leg up,’ they
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