The immediate resistance remains the $80,000 to $85,000 level. A break above this level will push the prices towards $95,000. A break above $100,000 will confirm that the bottom is formed and Bitcoin will further rally to new record levels.
Final Words
Overall, post-war markets are now showing that a traditional “safe haven” story cannot be told for either gold or bitcoin. Gold remains very attractive in the long term due to the continued geopolitical tensions, potential for inflationary pressures and low levels of investor confidence in the current financial systems.
Meanwhile, some recovery in Bitcoin is taking place as fears subside and investors begin to focus once again on investments related to growth opportunities, rather than simply fear based alternative assets.
Thus, we have an overall more balanced perspective. Gold continues to demonstrate bullish characteristics, while Bitcoin begins to gain strength from significant support areas. The direction of the next leg in this market will ultimately be determined by future increases in geopolitical risks. It will also depend on further improvement in overall investor confidence.
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