Bitcoin Price Can’t Push $30K
Bitcoin has been unable to make any forward progress in terms of price action throughout the past 24 hours, but it wasn’t for the lack of trying. Meanwhile, some altcoins are charting considerable increases over the same period.
Main Breakdowns:
– Bitcoin bulls attempted to push the price toward the coveted $30K level.
– BTC reached around $29,700 but encountered resistance from bears.
– The hourly chart clearly shows the interception by bears.
Bitcoin’s lack of progress in the past 24 hours is evident, with the price failing to break through the $30,000 mark. Despite the efforts of Bitcoin bulls, bears were able to halt the upward momentum at around $29,700. This resistance is clearly visible on the hourly chart, indicating that further price action may be necessary for Bitcoin to overcome this hurdle.
Hot Take:
While Bitcoin continues to face resistance, some altcoins are experiencing notable increases in price. This suggests that investors are diversifying their portfolios and exploring alternative cryptocurrencies. As the crypto market evolves, it is important for investors to stay informed and consider the potential opportunities that altcoins may present.
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