A reason for trust
A strict editorial policy that focuses on accuracy, meaning and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reports and publication
A strict editorial policy that focuses on accuracy, meaning and impartiality
The price of a lion football and players are gentle. Each arcu is to ultra -up all children or hatred for football Ullamcorper.
This article is also available in Spanish.
After jumping by 10% over the past week, Bitcoin (BTC) reached a key level of resistance that can push or temporarily stop the flagship, cryptographic rally towards Fresh Time (ATH).
Bitcoin goes to a key level
Bitcoin has recently exceeded the 100,000 USD barrier for the first time since February. During its significant weekly results, BTC increased by over 10%, reaching on Monday with a high level of USD 105,500, fueling the mood of investors regarding the fresh ATH rally.
Rekt Capital analyst on Monday Highlighted that the flagship crypto accumulated throughout the re -accumulation, ending the deviation of declines and the first correction of price discovery. After growing to its range of USD 104,500, Bitcoin faced rejection from this key level, temporarily stopping the rally.
He pointed out that Bitcoin already had its first discovery of prices and correction of price discovery. Cryptocurrency is now trying to confirm his second discovery of prices, but must regain USD 104,500 as support to confirm this phase.
As the analyst explained, this level currently acts as resistance after closing the week for USD 104,118, just below the high range. He added that “technically BTC can try to confirm the increase above this point, closing above $ 104.5,000 every day, and then keeping it as support, so it will be worth watching this lower confirmation of the time frame.”
However, “Until this is confirmed, this resistance will continue to act as one. And as they do, they tend to reject the price.”
According to Rekt Capital, Bitcoin repeated some key elements in the range in the current level, which suggests that if BTC is still rejecting this level, it can face re -losers with a lower high resistance.
One dipped before ATHS?
Earlier, the analyst described in detail that BTC may repeat his performance Q4 2024, in which the cryptocurrency regained from a inheritance deviation to hit a fresh ATH.
BTC was initially rejected at a lower high resistance and fell on a minima range, then broke over the lower high level, complementing it as support and gliding to the fresh ATH.
In order for the history to repeat itself, BTC must be rejected in the amount of USD 99,000, accommodate USD 93,500 as support and break the range of USD 97,000–99,000 before it is rejected with a resistance of USD 104,500, which is the level of “transforming into support for Bitcoin to divide into a second discovery of the price.”
In particular, BTC has strictly followed this path over the past week, rejecting nearly USD 99,000 and re -supplementing the support of USD 93,500 before increasing above 100,000 USD. To continue this performance, the cryptocurrency must fall to the range of 97,000–99 000 USD and maintain it as a support for a similar breakthrough to fresh ATHS.
In his Monday analysis, Rekt Capital shared that the lower high BTC resistance is 98,500 USD, which signals that a 5% decrease may be ahead of us. He noticed, however, that “it does not have to happen at all”, because Bitcoin could be close to the key resistance every day, maintain this level and collect fresh ATHS.
“But in the case of immersion, the transformation of a lower high resistance into new support can fully confirm the breaking of this lower height, transform it into new support, and thus consolidate the BTC position in part 98.5 thousand USD-PLN-104.5,000 USD in the reaccumulation scope,” he summarized.
A distinguished painting with unmplash.com, chart from tradingview.com
