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 tender. Each arcu is to ultra -up all children or hatred for football Ullamcorper.
After days range around the range of USD 105,000Bitcoin seems to be succumbing to the bear pressure and making profits from traders. The last 24 hours have been marked by Bitcoin suspension loss at a price level of USD 105,000, breaking up until about USD 101,000 has affected in a lower range.
However, the technical analysis of the Bitcoin daily time table shows that this price level is increasingly threatened and there is now a formation can lead to a price accident in the direction of $ 96,000.
Forming the head pattern and shoulder and shoulder pattern
Titan of Crypto cryptographic analyst He emphasized what is Textbook boss and arms formation on the daily table. According to the analyst, this bear, if completed, would mean a failure towards the $ 96,000 zone.
The configuration is clearly defined by Summit (head) around mid -May It is surrounded by two lower levels (arms) on both sides, all sitting at the top of the neckline, which now acts as the last support line. For now, Bitcoin trades just above this neckline, testing its structural integrity.
In technical analysis, a spotless break below the neckline is accompanied by a forceful volume often activates the measured movement from the top of the head to the neckline, expected down. Based on the graph, this decrease indicates directly to USD 96 054. This exposes bitcoins to download almost 8% compared to current levels, with little support between them.
In addition to this formation, the daily RSI Bitcoin is currently about 50 reading, which is a zone that often causes reactions. Therefore, a decrease below this central line will confirm the bear change of momentum.
Bitcoin price Action closing in bearish mode
If Bitcoin falls towards USD 96,000, it would mean Departure from stubborn strength This dominated its price only two weeks ago, when he registered the recent highest all time for $ 111,814. However, since then Bitcoin has lost further support levels USD 110,000, USD 107,000 and USD 105,000 each, which now brings the next $ 103,000 expiry zone. If Bitcoin did not persist above this threshold, the pressure would probably change towards USD 101,000, which can act as the final buffer before it falls more steep.
Interestingly, the level of the reverse neckline of the head and shoulders emphasized by the Titan of Crypto cryptocurrency analyst is around USD 103,500. Bitcoin has broken below this price level in the last 24 hours, but Bulls has been prevented from further losses below USD 101,200. This led to the creation of lower low in everyday time frames.
At the time of writing, Bitcoin trades for 103,250 USD, which means that it returns to testing the neckline from below. His reaction will determine whether he will eventually advance in the direction of USD 96,000. If Sellers take control At this level, this would not only confirm the division of the head and arms, but can also lead to low -term surrender in other cryptocurrencies.
A distinguished picture from Getty Images, chart from TradingView.com
