Analysis: $100,000 may be an important psychological barrier for BTC in the near future. Traders may face a period of consolidation after locking in profits
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Planet Daily News: Bitcoin has been rising continuously this week. Josh Gilbert, a market analyst at eToro, said that the market has clearly shifted towards a more risk-tolerant tone in the past week, and trade tensions seem to be easing. Trump's indication of willingness to negotiate has helped boost the sentiment of risk assets, especially Bitcoin. Rachael Lucas, a cryptocurrency analyst at BTC Markets, believes that psychologically significant round numbers like $100,000 typically prompt short-term profit-taking, and traders may face a consolidation period after locking in profits. (Bloomberg)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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