Crypto Blog
Bitcoin has failed to sustain its rally above the $100K level and has been correcting over the last week.
This could result in a deeper continuation below the $90K and toward the $80K area in the coming weeks if the price fails to break back above $100K.Looking at the 4-hour timeframe, things look slightly more tricky for Bitcoin. The price has recently broken the ascending channel pattern to the downside, which can be a reversal signal. The lower boundary of the pattern has also been retested twice alongside the $100K resistance level.
Not everything can be figured out using technical and price analysis. For a better view of the underlying dynamics of the Bitcoin network, it is beneficial to analyze on-chain metrics.
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