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Bitcoin Rally Faces Resistance: Trader Warns of Imminent Pullback

By: coindoo|2025/05/10 07:15:05
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In a tweet accompanied by a technical chart, Sherpa highlighted multiple resistance zones between $106,000 and $109,000, stating: “Pullback comes soon at 1 of these levels IMO.”The chart reflects a significant rally in BTC’s price but shows potential reversal zones from earlier trading ranges. Volume spikes during recent upward moves indicate increasing volatility, typically a precursor to price corrections.Sherpa emphasized the market remains a “buy the dip” environment, suggesting any correction could present another opportunity for accumulation rather than a signal of trend reversal. “Stay on your toes,” he advised, noting the uncertainty around how deep or exactly where the pullback might occur. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Bitcoin Could Be Leading Global Monetary Trends, Says Analyst For traders and investors, this analysis suggests caution near resistance but encourages maintaining a bullish outlook, especially for long-term holders.The post Bitcoin Rally Faces Resistance: Trader Warns of Imminent Pullback appeared first on Coindoo.

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