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Bitcoin Ready for $110,000: No Resistances
According to Michael Saylor, the founder of MicroStrategy, Bitcoin (BTC) is on a path to reach $110,000 without any significant resistances. This prediction comes as a result of an analysis of the market’s current state.
Saylor emphasizes that the high technical support and increasing liquidity are driving forces behind Bitcoin’s potential surge towards this target price. He highlights that even though there may be some minor resistance levels above $105,000 and $103,000, the likelihood of BTC holding its ground is higher than falling back due to low resistance. This sentiment has been echoed by other experts in the cryptocurrency space.
The analysis suggests that the bears do have a significant presence in the market but it’s unlikely to change the momentum at this stage. It’s crucial for traders to stay vigilant while considering this risk, as any drastic shift could lead to a quick correction if BTC fails to hold above $105,000 and falls back into the lower range.
The prediction by Saylor brings attention to the possibility of Bitcoin reaching new heights in the near future.
Source: u.today
