Brad Garlinghouse, CEO of Ripple Labs, stated his position on Bitcoin (BTC) during the Blockworks Digital Asset Summit in New York
After a strong bullish session yesterday, BTCUSD is now seen performing a bearish correction on the H1 chart. As the price consolidates, we can expect some opportunities for upbeat traders to enter long positions and push the price higher.
The H1 chart shows that the BTCUSD price found strong support around the 81,300 level. From here, the price experienced a significant bullish move as it managed to break through several key resistance levels. This breakout indicated strong upward momentum.
Later, the price broke through the 85,400 level, which is now expected to provide support for the next move. If the price forms a bullish reversal pattern at this level, we can expect buyers to push the price even higher. However, if the price fails to hold this level and breaks through it, it could indicate a shift in favor of sellers, who might aim for short positions from the value areas.
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