Market Rally Pauses as Bitcoin Tests Resistance
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The cryptocurrency market rally has decelerated as Bitcoin encountered significant resistance near the $98,000 level, indicating a potential consolidation phase following recent gains. While this resistance has temporarily stalled upward momentum, technical analysis suggests underlying strength remains, with traders expected to actively accumulate positions during pullbacks to key support levels.
Market structure appears resilient despite the pause, with both Bitcoin and major altcoins demonstrating robust support zones that could provide buying opportunities. This pattern suggests a healthy market correction rather than a trend reversal, as institutional and retail participants look to establish positions at more favorable valuations before the next potential leg higher.
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