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After recovering $ 100,000 decisive, Bitcoin (BTC) tests its recently recovered levels as support, as some analysts indicate that the price will witness a short -term side move before leaving its main resistance.
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The following key levels of BTC
During the past month, Bitcoin witnessed a huge performance, with more than 23 % of the brand of $ 84,000. The leading Crypto company regained a $ 100,000 barrier, lost during February’s decline, and rose to the highest level in three months of 105,819 dollars.
Amid the market recovery, the BTC re -inserted the post -US election range, between 92,000 dollars and $ 106,000, and traded only 4.4 % of the highest level in January (ATH). However, the huge gathering appears to have slowed after approaching the upper level of the domain, which may stop the moments of his next leg.
This week, Bitcoin ranged between $ 101500 -105,000 dollars, with most filtering groups at its lowest weekly levels. Dan Tafir Trading Duplicate Outside the cryptocurrency now “is very far from any large liquidity groups.”
He explained that the price of BTC was not circulated at the highest level for an important period, and a few new situations were built around this region “after the initial pressure of short pants.”
As such, the main levels to search for are the highest level in the range over the resistance of $ 106,000, the lowest support of $ 93,000, as the last penetration occurred.
Bitcoin trading sidely for two weeks?
Expert Expert Crown Vision This BTC price is “very simple from here”, as the main encryption moves in a one -month wedge style. If bitcoin remains in the composition, it may rise to the level of 110,000 and 112,000 dollars.
However, if Bitcoin falls less than the minimum limits, about $ 100,000, it may lose the main support and try to fill the CME gap around $ 92,000 before a new ATH rally.
At the same time, market monitoring cushions Ted High Bitcoin’s association with M2 Money Supply. The analyst pointed out that the price of prices in the cryptocurrency is similar to the global M2 supply plan during the past few months, including the last pump of more than $ 100,000.
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Now the graph suggests a unification period, which can see Bitcoin moving sideways for a week to two weeks, if it continues to follow the global M2 supply path. “Once this is over, the next BTC match will start, which will pay it over 120 thousand dollars,” he confirmed.
In addition, Ted Duplicate BTC’s Wyckoff accumulation is located in the final stage, with some unification that exceeds $ 100,000 support, “a good sign”. I concluded that with liquidity entered again, the next leg will start “soon.”
As of the writing of these lines, Bitcoin trades at $ 104,916, a 0.5 % decrease in the daily time frame.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
