According to COINOTAG News on April 28th, 10x Research has issued a detailed analysis regarding the current state of Bitcoin. The report indicates that the $94,000-95,000 resistance zone is likely to maintain pressure on Bitcoin’s upward trajectory in the near term. Notably, two critical reversal indicators have shifted to bearish territory, while the stochastic indicator has surged to a striking 95%, highlighting potential short-term downside risks. However, industry analysts are interpreting this situation as merely a brief consolidation phase, anticipating a forthcoming breakthrough above the significant $100,000 threshold. Investors are advised to monitor these technical indicators closely, as they could provide insights into Bitcoin’s next movement and the overall cryptocurrency market dynamics.
Source: https://en.coinotag.com/breakingnews/bitcoin-faces-short-term-resistance-at-94000-analysts-predict-consolidation-before-100000-breakthrough/