After a sudden decline a few days ago, Bitcoin It appears that it briefly regained its upscale momentum, as it rose from about 9,3300 dollars to 96,300 dollars. Despite the slight apostasy, the BTC price is still heading within a major range that is likely to determine its next path in the short term.
Bitcoin's side price procedures
IC News, the Crypto Informative platform has been searched in the recent procedures of Bitcoin, revealing a decisive development. After investigating prices, the platform specific The origin is within a relatively narrow range.
With important support and resistance levels that affect the next path for Bitcoin, this stage of the side movement may precede the outbreak of observation in either direction. It may put the outbreak on the upper side BTC on a road to recover $ 100,000 and beyond, while the break below can bring 92,000 dollars The level of support in focus.
According to IC News, BTC was trading at 96,540 dollars at the time of the post, and continuing its cautious upward path. This is a slight profit of about 0.25 % during the past day and an increase of 1.75 % during the past seven days.
Despite the recent market fluctuations, the 24 -hour price range ranges between 93,388 dollars to 96,695 dollars maintains the main assets within a relatively narrow range. Its continuous movements within the range indicate continuous unification in the market.
Glassnode also dealt with the financial data and data platform on bitcoin movements within a relatively small range. Glassnode High The original is circulating between the price zone 93,000 dollars and $ 97,000, which indicates a period of monotheism where the wider market cools.
The tight procedure for the price comes after the recent fluctuations in the market, where it fights bulls and bears to control the market. Nowadays, Glassnode indicated that the derivative activity is declining, and the market Capital flows I became weaker.
Moreover, the patterns of accumulation of short -term holders reflect the previous patterns, especially in May 2021. If a similar result is revealed, the bitcoin price may refuse towards the main resistance levels or even The highest new level ever In the coming months, as we saw in 2021.
BTC price to see more downward pressure?
Although BTC has seen a slight upward step, a major indication indicates that the original may be ready for further prices. Founder and co -analyst open Development after several attempts to recover BTCWith every recovery weaker than the past.
According to the expert, the weak Bitcoin bounce from 93,500 dollars to $ 95,000 highlights the immediate size of the immediate size in a stronger step. Meanwhile, the risk index, which is a major measure of transportation in price trends, shows early warning Detamental pressure indicators.
As long as the level of $ 97,000 and 98,500 dollars has not yet been recovered, negative claims that the $ 92,000 sign is still the decisive area that must be monitored on the negative side.
Distinctive image from Istock, Chart from TradingView.com
Comments are closed, but trackbacks and pingbacks are open.