Bitcoin's Price Standoff: Ezy Bitcoin Predicts Near-Term Rise
Bitcoin's price is currently engaged in a tense standoff between short-term market forces and long-term macro trends. Cryptocurrency influencer Ezy Bitcoin weighs in, predicting a potential price increase in the near future.
Ezy Bitcoin, known for accurate Bitcoin price forecasts, anticipates a short- to mid-term rise in Bitcoin's value. He suggests that a minor pullback could present an opportunity for traders and investors to accumulate more Bitcoin. Currently, Bitcoin is aggressively defending support levels and pushing towards the $117,000 resistance area.
After a sharp drop, Bitcoin demonstrated a swift recovery, with buyers stepping in at crucial zones. To unlock significantly higher targets between $116,000 and $117,000, a successful breakout above the $114,600-$114,800 resistance is needed. However, a CME gap remains unfilled, potentially indicating a downside move before a major rally.
Bitcoin faces an immediate challenge in the form of a narrow resistance zone between $114,600 and $114,800. Historically, Bitcoin has shown a tendency to revisit unfilled gaps before resuming its climb. Ezy Bitcoin maintains a 100% success rate in predicting gap fills over the last five months, adding credibility to his bullish outlook.
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