After the explosion that went Bitcoin outside the $ 100,000 sign, the price campaign settled in the known strategic rhythm of consolidation. At present, Bitcoin trads around USD 103,000, and technical analysis shows that this phase can be tranquil before another significant emphasis on a range of 106,000 to 110,000 USD.
According to Rlinda, cryptocurrency analyst Return the next leg up.
Consolidation of bitcoin prices between the key levels of shoot building
The Bitcoin rally from a breakthrough zone of USD 97,860 to the resistance area of USD 104 300 meant a clear distribution phase, and now the price ranges between USD 104,300 and USD 102,300. It is simple to see that the price rally has fallen significantly in the last 48 hours.
However, a cryptographic analyst Rlielda noticed it This range related to range is a positive development, indicating a stubborn continuation rather than weakness. The reflection from the lower part of this zone, especially from USD 103,300, USD 102,300, and even even USD 101,700, can act as a stepping stone for a breakthrough test above USD 104,300.
In particular, the analyst emphasized that this third again failed to push the price to resistance, which led to a local inheritance. However, The resulting violation of 103 336 USD It shows that the basic force is still intact. If Bitcoin successfully tests $ 103,600 and refute the liquidity zone from 102,700 to USD 102,300, the leading cryptocurrency may make another attempt to break the resistance 104,300 USD.
If it goes, the next leg can reach up to USD 106,000, and even USD 107,000, and from there a further shoot can escalate the price above the highest highest level in history 108,286 USD to USD 110,000 before the end of May. Price purposes except this level ranges from 120,000 to USD 180,000 before the end of the year.
Chart photo From TradingView: RLLD
Signals on the chain strengthen the stubborn perspective
This compact -term consolidation is does not occur in insulation with sales pressure. In particular, the data in the chain and market moods support the Bitcoin path by the end of the month.
According to cryptographic analyst, Ali Martinez over 110,000 BTC has been withdrawn from centralized exchanges over the past month. As shown in The cryptochant chart below This resulted in a decrease in the total Bitcoins reserve on the exchange of cryptocurrencies from 2.57 million BTC to 2.45 million BTC.
It is a sign that investors transfer their shares in a icy store or prepare for long -term holding, which reduces immediate sales pressure and supports the price at a price.
Chart Picture from X: @ali_Charts
Currently, the most vital support levels to watch are USD 103,300, USD 102,300 and USD 101,700, while the resistance levels to the recent highest levels of all time are USD 104,300 and USD 108,786.
At the time of writing, Bitcoin traded for $ 103,670.
A distinguished picture from Unsplash, TradingView chart
Editorial process For a bitcoinist, she focuses on providing thoroughly examined, correct and impartial content. We maintain strict acquisition standards, and each page undergoes a careful review of our team of the best technological experts and experienced editors. This process ensures the integrity, importance and value of our content for our readers.
