Analysts: Bitcoin’s weekly closing needs to hold $97,000 to hit record highs
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According to Cointelegraph, analysts pointed out that if Bitcoin can hold above $97,000 this week, it will be expected to launch a market that hits a record high. Bitcoin has been rising for three consecutive trading days, up 6% from the low of $95,000 on February 18, and the trading price is $99,158.
Analyst Rekt Capital said Bitcoin is currently supporting at the lower boundary of the triangle market structure at $97,028. Although Bitcoin has fallen in the past three weeks, it has always maintained that pattern is intact. Another analyst, Warren Muppet, pointed out that Bitcoin has broken $98,000 for the first time since February 4, and if it can confirm the breakthrough, it will be expected to hit an all-time high.