According to end-of-week analysis, Bitcoin may struggle to break through a key resistance zone on its own. The $28,000 level is currently acting as a major point of interest for traders. In low timeframe analysis, it is noted that significant buying power is needed to push Bitcoin above this resistance level. Bitcoin’s reaction to this level and the 200-day moving average has been described as “not the best.” Traders are cautious about shorting BTC in case of a sudden breakout, as it could lead to further upside. Geopolitical uncertainty is also seen as a potential catalyst for Bitcoin’s price movement, with some analysts predicting a move towards $30,000. At the time of writing, BTC/USD was up 3.5% month-to-date.
