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Is Bitcoin heading towards an uncertain future?

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At its current price levels, the value of leading coin Bitcoin [BTC] remains stuck at its 2021-2022 bear market base.

With its price ledged against its 2021-2022 bear market base, BTC’s next price action remains unclear until it breaches this resistance range or accumulation climbs.BTC Profit Calculator

BaroVirtual added further that a factor contributing to BTC’s current price oscillation is the amount of the coin’s supply held in profit. Regarding this, the analyst drew a parallel between the current price action and what happened during the early stages of bull markets in 2012 and 2016.“The movement of supply in profit is conceptually reminiscent of the periods of January-May 2012 and October 2015-May 2016.

This could mean that a lot of people are holding the coins that they bought at a lower price, and they are waiting to sell at a higher profit. For the coin’s price to grow, it has to break through the 65.95-76.31 resistance range. According to the analyst:

 

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