The price of bitcoins is still trading above 100,000 USD and remains quite similar to a high level of all time of USD 111,900. However, it did nothing to discourage Bears that still destroy the cryptographic market. In particular, Altcoins have suffered the most, seemingly there is no end in sight. Considering the current market moods, the cryptographic analyst gave the cause of bear the price of Bitcoins, despite the fact that he still exceeded $ 100,000.
Why the price of bitcoins is still bear
IN analysisThe cryptographic analyst, Anup Ziddi, pointed out the reason why the price of bitcoins can still see bear tendencies. The first is the fact that the leading cryptocurrency according to market capitalization is still trading below an essential level, which is USD 107,000.
Until now, USD 107,000 has become an essential level, because it served as resistance in the latest Bitcoin offer for recent highest levels of all time. After a decrease in prices, he once again turned into resistance, and the bulls were not able to spotless this level to resume this upward trend. Considering this, USD 107,000 has now become a level to overcome if the price is continued.
According to cryptographic analyst, the price of bitcoins is still quite bear, if it remains below this level. The longer it trades below USD 107,000, the higher the possibilities of further accidents from here. The first goal is USD 103,500, which has already been tested earlier this week. Then, after that $ 102,500 swimming $ 100,000 sits as the final goal Before achieving earnest support.
In addition to trading in the price of bitcoins below such an essential psychological level, the cryptographic analyst also indicates a deterioration of geopolitical situations as a catalyst for a decline. This was seen because the price of Bitcoins fell after the renovated tariff wars of Donald Trump, causing confusion of financial markets.
Pushing btc further
Another analyst also has he cried Besja surrounding the price of Bitcoins and expects the resource to fall much further. The analyst indicates how fluidity, gate values and market structure as a cause of market fall.
The analyst explained that the growth of all time was not a real breakthrough, calling it a stop hunting. Additionally fair It is USD 105,600 and USD 106,000, and because the price of Bitcoins was unable to recover this level, it increases the likelihood of further withdrawal.
The last, but no more or less breakdown restored the price of bitcoins to USD 104,300Which, according to the analyst, is the first sign of the bear’s continuation. “If the price returns to this imbalance and shows rejection, I expect that the continuation is lower, with targets of USD 104,300, and eventually drops to USD 103,600,” said the analyst.
A distinguished picture from Dall.e, chart from tradingview.com
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