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Bitcoin Facing Resistance at 109600, No New ATH Expected
Bitcoin's current range between 108200 and 109600 is seen as a peak. An increase beyond this level isn't expected, as it could negate the short-selling scenario. A new all-time high isn't anticipated either, mainly because it's not expected. When trading futures instead of the spot market, it requires a comprehensive understanding of assets from start to finish, considering multiple potential scenarios.
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AI Analysis
The current Bitcoin price range between 108200 and 109600 suggests a significant resistance zone, likely acting as a barrier to further upward movement. Traders are cautious about breaking beyond this...
AI Recommendation
Given the current resistance zone and the lack of expectation for a new ATH, it is advisable to adopt a cautious trading approach. Traders should consider the potential for prices to reverse or consol...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.