📰 CRYPTO NEWS
Bitcoin closed last week at its highest level in eight months, a sign many investors interpreted as evidence of market strength. However, at the start of the U.S. session on Monday, that same weekly high began acting as a resistance zone on shorter time frames, curbing any attempt to move higher. This means the price failed to break above that level and establish it as support, leaving it stuck right at this key zone. This kind of behavior is fairly common after strong weekly closes, as many traders use those levels to take profits or open short positions. It’s worth asking whether this rejection is a temporary pause before another bullish push, or the first sign that the market needs a deeper correction before it can continue rising.
What do you think? Let me know in the comments 👇
Bitcoin closed last week at its highest level in eight months, a sign many investors interpreted as evidence of market strength. However, at the start of the U.S. session on Monday, that same weekly high began acting as a resistance zone on shorter time frames, curbing any attempt to move higher. This means the price failed to break above that level and establish it as support, leaving it stuck right at this key zone. This kind of behavior is fairly common after strong weekly closes, as many traders use those levels to take profits or open short positions. It’s worth asking whether this rejection is a temporary pause before another bullish push, or the first sign that the market needs a deeper correction before it can continue rising.
What do you think? Let me know in the comments 👇