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Bitcoin Bulls are I’m trying to push higher With slightly below 97,000 USD, an attempt to confirm the last breakthrough above the multi -day range of consolidation. After stopping nearly $ 95,000 for over a week, Bitcoin exploded $ 97,000 before it withdrew the gate in fair value.
This led to an escalate in activity on Bitcoin blockchain, and the next perspective is whether the current one The structure persists to continue up to $ 100,000 or if this rush may break down in the resistance zone.
Bitcoin reaches a 6-month peak in network activity
One of the most significant changes in the market dynamics came from the chain. According to Crypto Ali Martinez, Bitcoin I just recorded the highest number lively addresses in the last six months. As made available in the post on the Social Media Platform X, Martinez noticed that 925 914 BTC addresses were lively in one day, which is Extremely high level of commitment On Bitcoin blockchain.
The accompanying Glassnode chart reveals how steep this rapid growth was, building a gradual climb, which began in the last week of April. Interestingly, Bitcoin activity coincides with the recent recovery of 95,000 USD price range.
Adding Tehthomas cryptographic analyst to a stubborn case shared convincing Technical analysis that indicated a breakthrough Continuation compared to $ 100,000. The interpretation of the 4-hour BTCUSDT time frame shows an almost identical structure with the one observed in mid-April.
Then Bitcoin consolidated nearly $ 86,000, exploded, left a gate in fair value (FVG), tested the gap and collected almost $ 10,000. A mirror image of this pattern It is currently developing. The price of bitcoins compressed below USD 95,000, broke the resistance and created fresh FVG from 94 200 to 95,000 USD.
Tehthomas noticed that the key is not to prosecute a breakthrough, but waiting for the immaculate Ponieściek of the modern FVG. If the buyers defend this area, as at the beginning of this month, the road to $ 100,000 is structurally intact. However, despite the fact that the structure is currently conducive to bulls, the situation may change bears if Bitcoin drops back to the venerable range below USD 94,000.
Chart from TradingView
The golden pocket configuration is distinguished by the risk in advance
Not all analysts are convinced This bitcoin will rear $ 100,000 without Shakeout. Counterpart to The TradingView platform emphasizes the possible short-term Bearish configuration based on a 15-minute BTCUSDT chart.
According to the analyst, ongoing slimming up seems correct than impulsive, creating a classic brief configuration in a forceful resistance zone to fair value. Technical analysis shows that Bitcoin has moved to a region, which levels with the bear gate gap and the golden pocket zone specified by levels 0.618 to 0.65 Fibonacci.
At the moment, the difference in fair value is from 97,000 to 97,450 USD. If the price does not break through this region, it may reverse And catch the bulls.
Chart from TradingView
At the time of writing, Bitcoin traded for USD 96,040.
A distinguished picture from Unsplash, TradingView chart
