The Bitcoin price seems to be facing somewhat of a price failure since it crossed above the $100,000 price level. In the few hours after crossing above this psychological threshold, the Bitcoin price faced rejection and corrected until it reached $94,000.
However, this correction does not necessarily signal a bleak outlook for the world’s largest cryptocurrency, especially as investor sentiment continues to hover in the extreme greed zone. According to technical analysis, the Bitcoin price is still open to climbing well above $100,000 by the end of December 2024.
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Bitcoin’s broader market dynamics and investor sentiment suggest that Bitcoin’s failure at $100,000 could be a temporary pause rather than a long-term reversal. Interestingly, a detailed analysis posted on the
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