Bitcoin remained within the $84,000 to $94,500 range this week, as predicted by market analyst Cody Feng. The cryptocurrency faced resistance in the $93,000 to $94,500 zone, leading to a retreat to the lower-middle part of the range. A short position established near $94,000 and exited near $91,000 yielded a 3.4% return.
Feng's analysis highlighted the effectiveness of the $86,000 to $86,500 support level, with signs of stabilization and buying interest emerging. The $84,000 level remains untested, maintaining the overall consolidation framework. Looking ahead, a potential rebound to the $92,000 to $93,000 range is anticipated, with resistance expected to form again. Traders are advised to focus on range-bound strategies and maintain strict risk control.
Bitcoin Trades Within $84,000–$94,500 Range, Captures 3.4% Profit
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