Is Bitcoin Due for a Pullback if $52,000 Resistance Level Is Breached? Analysts Say It’s a Buying Opportunity!

Is Bitcoin Due for a Pullback if $52,000 Resistance Level Is Breached? Analysts Say It's a Buying Opportunity!

Is Bitcoin Due for a Pullback if $52,000 Resistance Level Is Breached? Analysts Say It's a Buying Opportunity!

However, Swissblock, a quantitative trading team focused on the cryptocurrency market, pointed out in a recent report that the stagnation of Bitcoin’s upward momentum may indicate an upcoming price correction before further price increases. Swissblock analysts stated that the price range of $52,000 is a significant resistance level on the long-term chart, which has exerted pressure on the price in September and December 2021, and now once again becomes a major obstacle preventing Bitcoin’s price from continuing to rise.