Despite the BlockFi bankruptcy news and an acute bearish trend, Bitcoin has remained resilient to bearish pressure. Some indicators and crypto prediction experts like coinpedia still point to a possible bearish trend reversal. The BTC price nearly jumped between $16,800 to $15,800 this week.
Bitcoin is having trouble coping with the bearish influences.
The asset could soon experience a major bearish reversal or upswing, until the price rises above $17,000 to reach the critical level of $17,500.
BTC is currently trading just above $16,500, which is the critical resistance. It is trying hard to validate the current upswing. Therefore, a slight pullback close to the previous resistance could be prominent before the price moves up.
couple of hours after you posted this bitcoin sustain to break 17k but drops back to 16,800 for another hours and now staying and climbing above 17k.
17,190$ is the price now so maybe you are correct that it will be increasing in the coming months or at least maybe 18k before December ends?