Bitcoin consolidation: Analyst warns of the key mark of $ 116,000 after an impressive July outbreak

Bitcoin consolidation: Analyst warns of the key mark of $ 116,000 after an impressive July outbreak

Bitcoin consolidation between $ 116,000 and $ 120,000

Bitcoin has consolidated between $ 116,000 and $ 120,000 in the past few weeks after the price has experienced a strong outbreak at the beginning of July. This stabilization phase is important for investors and traders, since it may be able to provide information about future price development.

Analyst Kevinn Nguyen emphasizes that support is an important brand at $ 116,000. If Bitcoin keeps this brand, this could be seen as an indication for a positive market movement. Stabilization above this limit could strengthen the trust of the investors and lead to further price gains.

The current consolidation is not rude; It shows that the Bitcoin market adapts to the latest price fluctuations and reacts to possible new developments. However, investors should remain vigilant and observe developments to make strategic decisions.

Overall, the Bitcoin market remains dynamic, and the coming weeks could be crucial for the direction in which the price will develop.