However, the quantitative trading team Swissblock, focusing on the cryptocurrency market, pointed out in a recent report that the stagnation of Bitcoin’s upward momentum may indicate a wave of price correction before further price increases. Swissblock analysts stated that the price range of $52,000 is an important resistance level on the long-term chart, which has put pressure on the price twice in September and December 2021 and has now become a significant obstacle preventing Bitcoin’s price from continuing to rise.
