Investing & Markets

Bitcoin's Next Big Move: The Crucial Price Levels to Watch

Bitcoin's Next Big Move: The Crucial Price Levels to Watch

Bitcoin, the world's leading cryptocurrency, has been navigating a period of significant uncertainty, with its upward trajectory frequently encountering strong resistance. As investors and enthusiasts ponder its future, recent on-chain data offers valuable insights into the potential paths ahead for BTC. Understanding these critical junctures is paramount for anyone keen on the volatile world of digital assets. The $117,000 Hurdle: A Deep Dive into Resistance The price point of $117,000 has emerged as a particularly formidable barrier for Bitcoin. This critical resistance zone was notably highlighted by Joao Wedson, the founder and CEO of Alphractal, in a recent analysis shared on social media. Wedson's earlier predictions have consistently pointed to this level as a key area where Bitcoin's ascent could face significant challenges. His conclusion wasn't based on mere speculation but on the convergence of two powerful on-chain metrics: the CVDD (Cumulative Value Days Dest…

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