Crypto
Bitcoin's Price Surge Hits Resistance at $82K
Bitcoin's recent surge has many wondering if it's reached its peak. After hitting $81,250 on Tuesday, the price is currently holding steady.
A closer look at the 4-hour chart reveals a bull pennant breakout and a small falling wedge forming. The price has already broken out of this wedge, leaving only the $79,100 horizontal resistance to overcome.
On the daily chart, significant resistance lies between $82K and $83K. If the current level is indeed the top, the 0.618 Fibonacci extension would bring the price back down to $69,700 for a confirmation of the 200-day SMA as support.