Bitcoin range consolidation a ‘healthy next step’ before BTC attempt at $100K
Bitcoin price cooled off at the start of December, but several bullish catalysts support investors’ belief that $100,000 BTC is around the corner.
Bitcoin’s price correction extended into a second day as BTC briefly slipped below $93,600 on Dec. 3, but data suggests that an assortment of market participants are keen to buy the dips.
While some traders may be revising their short-term targets and choosing to take profits, Bitcoin price appears to be consolidating by taking a breather after November’s stellar 37% gain.
After an unprecedented parabolic $26,000 gain in November to what some traders deem a psychological hurdle at the $100,000 mark, a period of consolidation where BTC can build some market structure in terms of a defined range with clear support and resistance levels would be a healthy next step.
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Author: Big Smokey
