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. Bitcoin prices disaster It focuses on the last decline in the flagship cryptocurrency by as much as 103,200 USD. The captain of the cryptographic analyst Faibik commented why USD 107,500 and USD 103,500 are the most crucial levels that you can watch because BTC wants to decide on your next move.
Why USD 107,500 and USD 103,500 are crucial for the price of bitcoin
IN X PostCaptain Faibik explained that 107,500 USD and USD 103,500 are crucial when Bulls and Bears are fighting for dictation of the next Bitcoin price. The analyst noticed that this week BTC Bulls would try to recover Resistance to USD 107,500 and recover the rush.
He predicted that a pure break and maintenance above $ 107,500 can cause a stubborn leg towards $ 117,000, which would mean Fresh all time (ATH) for flagship cryptocurrencies. Meanwhile, on the other hand, USD 103,500 is an crucial level of support, which Bulls must defend, because Bitcoin price modern ups. Captain Faibik warned that below the breakdown could change the shoot back in favor of the bear.
The price of bitcoins increased on May 2 above USD 106,000 after the US decision to extend the tariffs to some Chinese goods in August. This ensured a stubborn perspective for the flagship cryptocurrency Donald Trump said last week that China violated a trade agreement from the USA.
Trump and the President of China are to connect the connection this week, which can enhance even more Bitcoins price If both parties could terminate any dispute regarding the current trade agreement. Meanwhile, the Fed chair Jerome Powell did not discuss the economy During a speech at the anniversary conference of the International Finance Department, which is also still the uncertainty of the market.
The first step for BTC is to recover over USD 106,500
IN X PostKevin Capital cryptographic analyst indicated that the first step is concerned Bitcoins price to successfully recover USD 106,500. He noticed that BTC had noted weekly close to this level, which restores the flagship crypto in the danger zone. The analyst also noticed that BTC must regain this level in the coming days or things may “look”. Kevin Capital added that it was a key level for months and nothing has changed.
Meanwhile, a cryptographic analyst Revealed cryptographic titanium that katana is created on a weekly chart at the price of bitcoins. He explained it In the analysis of IchimokuKatana creates when Tenkan and Kijun overlap. This signals low shoots and market balance. He added that this development is also preceded by powerful directional movements, with an extension or withdrawal on the horizon.
At the time of writing this text, the price of bitcoins is around USD 105,435, according to the last 24 hours, according to data with coinmarketcap.
A distinguished picture from Getty Images, chart from TradingView.com
