Bitcoin Tests $80,000 Resistance as Fidelity's Timmer Sees Double-Bottom Pattern

Fidelity's Jurrien Timmer believes that Bitcoin has finally broken through its power law curve floor and is now testing $80,000 resistance. This level is crucial as a move above it would confirm a double-bottom pattern, according to Timmer.

In the past, Bitcoin corrected for long enough to satisfy the time element of its mild four-year cycle winter. Now that the asset has reached this key resistance point, investors are eagerly awaiting its next move.

Timmer also notes that both Bitcoin and gold have lagged behind other assets this year but are now catching up and still have room to rise.