Bitcoin Bull Run Weekly Update & Commentary
- Bitcoin is currently trading at 100,300$
- Bitcoin had a very volatile week where we saw Bitcoin purging 104,000$ and then flash crashing to 90,000$ and after that, we saw another expansion to 98,000$ this showed buyer's interest and limit buys were quite high which pushed the price higher in no time
- Bitcoin was overheated and this flash crash also helped the market to throw high-leveraged traders out of the market resetting the Funding rates
- Technically I see Bitcoins weekly closing is going to very important to understand the coming weeks we need a weekly closing above 100,00 to keep the momentum strong
- Important POIs are going to be 89,000$ and 77,000$
- If you are already holding BTC you can think about locking in 20% gains and rotating the same in ETH, Imo ETH will outperform BTC in the 1st quarter of 2025
- Bitcoin had a very volatile week where we saw Bitcoin purging 104,000$ and then flash crashing to 90,000$ and after that, we saw another expansion to 98,000$ this showed buyer's interest and limit buys were quite high which pushed the price higher in no time
- Bitcoin was overheated and this flash crash also helped the market to throw high-leveraged traders out of the market resetting the Funding rates
- Technically I see Bitcoins weekly closing is going to very important to understand the coming weeks we need a weekly closing above 100,00 to keep the momentum strong
- Important POIs are going to be 89,000$ and 77,000$
- If you are already holding BTC you can think about locking in 20% gains and rotating the same in ETH, Imo ETH will outperform BTC in the 1st quarter of 2025
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