Bitcoin is currently at a resistance level, as per analysts who await a monthly close above $30-32K. Bitcoin traders seeking 'further bullish confirmation' may face concerns about higher resistance. MicroStrategy is now making a significant profit as Bitcoin's price rebounds. Bitcoin hovers above $30,000 noted on X that some are waiting for a monthly close above the crucial level to confirm the bullish momentum.
In the derivatives market, the long position traders are exceeding the short position traders, also indicating positive momentum, based on CryptoQuant data. Crypto influencer @CryptoGodJohn on X believes that the new Bitcoin trend might not see significant drops in its price or retests of lower levels like many people anticipate.
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