Analysis: Bitcoin faces selling pressure after rising to nearly $98,000; early-year long positions may consider taking profits
BlockBeats News, January 18, the crypto trading metrics analysis platform CoinKarma published an article stating, "BTC surged to nearly $98,000 earlier this week, but as it approached this price level, the market saw the most significant selling pressure in recent weeks, resulting in a slight pullback in price. However, overall liquidity between buyers and sellers has not shown a significant imbalance and remains relatively balanced.
Other key market indicators have yet to show clear signals. Based on the current situation, long position holders who entered at relatively low points at the beginning of the year may consider taking profits, either by closing all or part of their positions, and wait for clearer signals before re-entering the market."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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