Bitcoin Price Needs to Reach $116,000 for Market Optimism

Cryptocurrency analyst Joao Wedson issued a warning to investors regarding Bitcoin’s recent price surge. While the price has surpassed $114,000, Wedson argues that true optimism won’t emerge until it surpasses $116,000. This crucial level is believed to signify a significant turning point for the market. Meanwhile, he highlighted the importance of the $110,400 support level. If this level breaks down, further decline could target $105,000 as the next significant area.