Bitcoin Sitting Under $100,000: What Does Technical Analysis Say?

Bitcoin’s (CRYPTO: BTC) 6% rally over the past seven days has technical analysts cautiously bullish about its near-term prospects.

What Happened: The apex cryptocurrency briefly tapped the $100,000 mark on Wednesday following cooler-than-expected inflation data but remains below the six-figure mark, trading around $97,600 at the time of writing.

Prominent technical analyst Kevin highlighted on Wednesday that Bitcoin remains in a falling wedge pattern, a bullish structure that necessitates caution until Bitcoin surpasses $104,000

“It’s not time to get overly bullish yet; there’s still a lot of work to do,” he noted.

Kevin also pointed out that Bitcoin’s dominance …

Full story available on Benzinga.com