Posted 12/14/2023, 9:20:38 AM
Bitcoin Price Shows Strength with Gains Nearing $45K Resistance
- Bitcoin price showing signs of strength with 7% daily gains, potentially continuing upside momentum
- On-chain data shows profit-taking and selling by short-term holders after hitting recent highs of $44k
- Metrics indicate similar market conditions to late 2020 prior to Bitcoin breaking $20k
- Analysts identify bullish technical indicators like RSI divergence, suggesting room to break $45-50k resistance
- Huge capital inflows back into Bitcoin and Ethereum mimic late 2020 just before major BTC bull run