Bitcoin will face ‘significant resistance’ reclaiming $94K: Analysts
Bitcoin may struggle to hold and continue higher above the $94,000 price level it was last trading at on March 3, according to crypto analysts.
Bitcoin may struggle to move above $94,000 after its failed attempt to reclaim the price level two days ago, Bitfinex analysts say.
“Any recovery to take the price back above $94,000 might face significant resistance,” Bitfinex analysts said in a March 3 markets report. Bitcoin (BTC) fell below $94,000 on March 2 and has yet to bounce back.
The Bitfinex analysts linked this prediction to the recent volatility following US President Donald Trump’s March 1 announcement pledging a crypto reserve, which saw Bitcoin quickly surge 12% from $85,000 to $95,000.
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Author: Ciaran Lyons
