Bitcoin Needs Break Above $118,000 for Bullish Momentum: Analyst

The price of Bitcoin remains unstable, fluctuating around $116,000. This volatility raises concerns about its ability to continue a bull run and reach new highs.

Analyst's Insight: Potential Price Surge

Joao Wedson, CEO of Alphractal, suggests Bitcoin may rally if it surpasses $118,000.
The price mark of $117,000 is crucial, indicating strong interest and potential resistance.
Key indicators, the CVDD Channel and Fibonacci-Adjusted Market Mean Price, highlight this level as significant for price movement.
These metrics historically provide accurate support and resistance levels.
A clear breakout above $118,000 is needed to confirm bullish momentum.

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Current BTC Price Status

BTC is currently valued at approximately $115,905, with no significant change in the last 24 hours.

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