Current Situation: Bitcoin has encountered a significant resistance level at $49,000, accompanied by an RSI suggesting an overbought state. Profit-Taking Scenario: Investors who bought Bitcoin at an average price of around $24,000, thereby achieving approximately 100% profit, are starting to sell their holdings. This trend is particularly noticeable among investors who purchased within this price range in 2021. Driven by fears of the price dropping back and losing their opportunity to sell …
Bitcoin’s Price Movement for BITSTAMP:BTCUSD by MarketSphere
Current Situation: Bitcoin has encountered a significant resistance level at $49,000, accompanied by an RSI suggesting an overbought state. Profit-Taking Scenario: Investors who bought Bitcoin at an average price of around $24,000, thereby achieving approximately 100% profit, are starting to sell their holdings. This trend is particularly noticeable among investors who purchased within this price…
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