Lark believes Bitcoin is "stuck" in a tough spot, with support around $52,000 but facing resistance from key price levels above.
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For Bitcoin to rise, it needs to break through resistance from the 200-day and 50-day moving averages, which are currently holding it back.
He highlights upcoming events, such as the U.S. elections and interest rate cuts, that could cause significant volatility for Bitcoin.
Despite the current price stagnation, Lark is optimistic about the future. He notes that the fundamentals of Bitcoin, Ethereum, and Solana are stronger than ever, even if prices don’t show it yet.
Lark advises caution during this uncertain period but sees great long-term potential for Bitcoin and the crypto market as a whole. He believes that once key barriers are overcome, Bitcoin could experience significant growth.
