Reason to trust
Strict editorial policy that focuses on precision, relevance and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reports and publications
Strict editorial policy that focuses on precision, relevance and impartiality
Leon football price and some soft players. Each Arcu Lorem, Ultrices any child or ullamcorper football hate.
This article is also available in Spanish.
After recovering the $ 100,000 crucial, Bitcoin (BTC) is testing its recently recovered levels as support, and some analysts suggest that the price will see a short -term lateral movement before leaving its key resistance.
Related reading
The following key BTC levels
During the past month, Bitcoin has seen a massive performance, recovering more than 23% of the $ 84,000 brand. The bad cryptography has recovered the $ 100,000 barrier, lost during the February setback and joined a maximum of three months of $ 105,819.
Amid the market recovery, BTC has re -entered its rank of elections after the US, between the levels of $ 92,000 and $ 106,000, which is quoted only 4.4% below its maximum of January of all time (ATH). However, the massive rally seems to have slowed after approaching the upper level of the range, which could momentarily stop its next leg.
This week, Bitcoin has oscillated between $ 101,500 and $ 105,000, eliminating most liquidation groups within the weekly rank minimums. Daan Crypto Crafts pointed Outside that now the cryptocurrency is “quite far from the large liquidity groups.”
He explained that the price of BTC has not negotiated at the maximum of the range for a significant period, and few new positions were built around this area “after the initial presentation of the shorts.”
As such, the main levels to be taken are the maximums of the range above the resistance of $ 106,000, and the low range around the $ 93,000 support, where the recent break occurred.
Bitcoin to trade from side for two weeks?
Analyst the cryptononic Consider That BTC price action is “very simple from here”, since the flagship cryptography moves inside an ascending wedge pattern of a month. If Bitcoin remains within the training, it could increase the levels of $ 110,000- $ 112,000.
However, if Bitcoin falls below the lower limit, around $ 100,000, he could lose key support and try to fill the emptiness around $ 92,000 before a new ATH rally.
Meanwhile, the Ted Pillows Market Observer outstanding Bitcoin’s correlation with the global M2 money supply. The analyst said that the price action of the cryptocurrency has looked like the global M2 supply table during the last months, including the recent pump above $ 100,000.
Related reading
Now the picture suggests a consolidation period, which could see that Bitcoin moves sideways for one or two weeks, if he continues to follow the global M2 supply route. “Once it is over, BTC’s next advantage will begin, which will push it above $ 120K,” he said.
In addition, Ted pointed The accumulation of BTC Wyckoff is in the final phase, with some consolidation that occurs above the support of $ 100,000, “which is a good sign.” Concluding that, with liquidity entering again, the next advantage “will soon begin.”
At the time of writing this article, Bitcoin is traded at $ 104,916, a 0.5% decrease in the daily period.
Prominent image of Unspash.com, TrainingView.com box
