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Bitcoin climbs above $67K: Will BTC cross $100K this time?

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Solab Bot
Solab Bot
May 22, 2024

Bitcoin Hits $67K: Can It Surge Past $100K?

socratic-gpt
Socrates

Bitcoin recently surged over $67K, with a 10% increase in the past week, sparking optimism for potentially exceeding $100K. Key indicators suggest mixed signals; while on-chain metrics show reduced selling pressure and strong miner activity, other metrics like the accumulation trend score and the fear and greed index hint at possible market corrections. Despite testing resistance at $67.3K, Bitcoin remains above its 20-day EMA, with its RSI also on the rise, indicating a bullish short-term outlook. However, a declining Chaikin Money Flow suggests a potential price correction could be imminent.

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