Welcome to Extreme Investor Network: Your Source for Exclusive Stock Market Insights
As experts in the world of trading, Wall Street, and the stock market, we are excited to bring you unique and valuable information on Bitcoin technical analysis. The Bitcoin market has been making some significant moves lately, and it’s crucial to understand the current landscape to make informed decisions.
Bitcoin has recently broken above the $74,000 level, entering into a FOMO area and challenging the $90,000 level. However, the market has encountered some resistance at this level, leading to sideways action in the last 48 hours. This consolidation is actually a positive sign, as it prevents the market from experiencing a drastic and unsustainable upward trend.
Looking ahead, there is a possibility of a pullback from the current levels. However, any potential pullbacks are viewed as buying opportunities, especially with the $74,000 level now acting as a support level along with the 50-day EMA approaching that level. In the longer term, we anticipate Bitcoin to continue its rally, supported by a rounded bottom formation and a measured move that suggests a target around the $98,000 level.
At Extreme Investor Network, we pride ourselves on providing exclusive insights and analysis that will help you navigate the complex world of trading and investing. Stay tuned for more expert commentary and market updates to help you make informed decisions and maximize your investment potential.