Bitcoin Eyes New Highs As Price Retests $109,000, But Analyst Warns Of Potential Pullback 📈
Bitcoin (BTC) is attempting to reclaim a critical level in its price recovery that could lead to new highs. Analysts are divided, with some seeing it as preparing for "final resistance," while others caution of a possible pullback.
BTC recently regained significant bullish momentum following a recent low, surpassing the $106,800 resistance. However, Analyst Rekt Capital believes BTC is setting up for a retest of its range high as support.
Crypto Jelle sees potential for a price discovery phase, targeting $120,000, but recognises the risks of failing to maintain the $108,000 support.
While Altcoin Sherpa remains "bullish," he notes the "dangerous area" BTC is in and its potential drop if the $110,000 level is not reclaimed.
Ali Martinez emphasizes the importance of support levels where significant buying has occurred. As BTC trades around $109,995, analysts continue to debate its future direction.
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