The price of Bitcoin presses on towards the upside and, once again, touched a critical resistance close to $38,000. The cryptocurrency could trend sideways at its current levels in the short term, leading analysts to find the support level that could withstand a spike in selling pressure.
As of this writing, Bitcoin trades at $37,160 with sideways movement in the last 24 hours. BTC held a 2% profit the previous week, while Cardano (ADA) and Solana (SOL) took the lead in the current price action.
The History Of Bitcoin Reveals Mega Bottom For The Current Cycle?
On-chain analyst Willy Woo shared a prediction on his social media channels based on the Bitcoin Cost Basis Density. The analyst investigated the BTC supply dynamics to