It was another unstable commercial week on the Bitcoin market (BTC), marked by almost equal losses and profits. According to data from Coinmarketcap, Bitcoin moved between 95,000 to 98,000 USD, creating a robust consolidation zone. However, the popular cryptographic analyst beetroot Kesmeci states that critical levels of cryptocurrency are also a price range.

Key Bitcoin levels to watch – $ 94,000 VS. USD 117,000

IN X Post On February 14, Bulk Kesmeci shared an compelling technical analysis on the BTC market, emphasizing two key zones that could decide on the compact -term direction of prices.

One of these critical zones is a 1.6 gold multiplier, which is currently 117,000 USD. The 1.6 zloty coefficient multiplier is a valuation tool used to identify vital resistance zones on the bull market. That is why Kesmeci postulates that if the Bitcoin term market closes above USD 117,000, point traders can predict the Bull Rally to discover their form again, which will lead to immediate growth.

The second vital price zone identified by beetroot is the 111-day movable average (111DMA), which is currently USD 94,000. 111DMA is a commonly used indicator of the average movable price, which often acts as a key level of vigorous support during the bull’s course.

Therefore, a weekly or daily price below USD 94,000 on the Futures market will invite robust pressure on Bitcoin, translating into an immediate drop in prices. Based on the postulating Kesmecia, Bitcoin will most likely leave the current consolidation zone to register any significant price movement.

Imports of factors that can support the price breakthrough include the escalate in ETF influences and the interests of corporate cryptocurrencies, as well as significant progress in the fresh Pro-Crypto program in the USA. On the other hand, investors should be afraid of variables, such as negative macroeconomic development, e.g. the Fed interest rate escalate, especially considering the recent escalate in US inflation.

BTC reached $ 1 billion – coming from a price dip?

In other messages, the Intotheblock analytical page Reports The Bitcoin market has recorded an influx of over $ 1.3 billion, which caused a net inflow of $ 1.04 billion. Basically, massive exchange revenues are interpreted as bear, because investors probably move their assets, preparing for sale on the stock exchange.

During the press, the leading cryptocurrency continues to trade at USD 97 653, reflecting an escalate in 0.50% in the last 24 hours. However, his daily commercial volume crashed by 12.80% and is currently priced at $ 32.29 billion. With market capitalization, 1.93 trillion USD BTC still occupies the largest digital resource.