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Bitcoin has broken off from a technical formation, which can put it on the right way to the decisive test zone from 96 200 to 102 100 USD. If it is confirmed in the coming days, the movement would represent the solemn development development in The current structure of the Bitcoin market. The cryptographic analyst emphasized this zone as the one in which Bitcoin trajectory can either stretch to fresh ups or meet another rejection.
The descent of the widening wedge of the breakthrough again removes the path to $ 100,000
Bitcoin’s price action in the last 24 hours is highlighted by returning to USD 85,000, when the purchase pressure began to creep. Interestingly, this purchase pressure crashed above the upper trend line falling the shape of the wedge. This pattern is usually considered a reversible signal, and its break implies a powerful continuation up if it is approved.
The formation of the formation was recorded in Analysis published on Social media platform X by Crypto Analyst Titan of Crypto. It is worth noting that the price chart divided by the analyst shows that the Klin formation took place during the daily times of candlesticks over the past three months. The wedge began to form after a bitcoin peak over $ 108,000 at the end of January and gradually expanded.
At the time of analysis, the price of bitcoin He has already done Two daily candlestick closes over the upper line of trend of the expanding wedge. According to the analyst, the breakthrough will most likely be confirmed this week. If this is confirmed, it will open the scene for the course above the price level $ 100,000 again or at least USD 96,200.
In particular, Titan of Crypto emphasized the region from 96 200 to 102 100 USD as the next target zone. The analyst emphasized that this range can act as a actual test of Bitcoin, because it will reveal whether the breakage leads to continuation or stuck in rejection.
Picture From X: Titan cryptography
Bringing construction points to $ 8 billion in a low squeeze above $ 90,000
Sensei cryptographic analyst He also commented on The current structure of Bitcoin prices, noting that moving to USD 90,000 can cause a huge liquidation event. Based on data from Coumingss, over $ 8 billion in low positions would be defenseless if Bitcoin It increased over $ 90,000 again.
The cumulative low liquidation chart of blocks shows a vast wall with a low interest, focused below this level on the main exchanges, such as Binance, OKX and Bybit.
Picture From X: Sensei
The data reflects a significant imbalance on the derivative instruments market, with low dominant items up to USD 90,000, except for what may boost on liquidation. If Bitcoin is pushed into this zone, the resulting cascade of liquidation among low positions can ensure the shoot required to exceed the price of bitcoins towards the target zone from USD 96,200 to USD 102 100 USD.
At the time of writing, Bitcoin traded USD 84,706.
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