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Bitcoin (BTC) is trying to regain a key area among the last price recovery, which can drive the flagship crypto towards modern ups. Some analysts suggested that BTC was preparing for “final resistance”, while others warned that he was still risking potential withdrawal of lower levels.
Bitcoin Rally Eyes Next Resistance
Bitcoin finally regained a significant stubborn shoot after printing a huge daily candle on Monday. The flagship crypto recently lost its high level range (ATH) in the amount of USD 106,800 USD-PLN 700, which causes concern among some investors.
In the case of recent market withdrawals, which began at the end of May, the flagship crypto also registered some variability, losing key levels as support and reaching a minimum near USD 100,000 last week.
However, BTC recovered $ 105,000 at the weekend before it increased on Monday above $ 106,800. After this results, the Rekt Capital analyst stated that Bitcoin successfully tested the reaction range of USD 104,400 high resistance as a modern support for four weeks.
He Highlighted It was BTC “reflected from this new support base, trying to go to the discovery of prices again.” In addition, Bitcoin ended a two -week pit, registering around $ 110,500 daily.
According to the BTC analyst, “he completely passed through 106 600-109 443 USD per day” and “once again positions himself at the end of May again”, which is support, which led to the price to his ATS last month.
Daily approaching above USD 109,443 would establish BTC in order to repeat the “final daily resistance” around USD 111,723, before the modern ATH. The analyst also confirmed that the recovery of the “last weekly resistance” in the amount of USD 108,900, because the support will also enhance the BTC shoot.
BTC in a “dangerous area”?
Crypto Jelle analyst suggested This transformation of a price area of USD 108,000 into support can send Bitcoin to a price discovery phase, potentially focused as a sign of USD 120,000. He noticed that earlier unsuccessful breakthrough attempts did not regain this level, but the cryptocurrency is currently maintaining this area.
Based on the multi -sequence, the Jelle pattern also confirmed its target 140,000–150,000 USD at the top of the BTC cycle. Analyst Highlighted The main inverted pattern of the head and shoulders is formed from the end of 2024.
According to the post, the pattern is “similar to completion” after the last price drop formed the right arm, and the neckline is about USD 111,000. Breaking above this level can send Bitcoin to the most critical purpose of the Jelle cycle.
Altcoin Sherpa considers This BTC chart “looks pretty good” in times, which suggests that it will be “stubborn until it shows otherwise.” He warned, however, that Bitcoin is “still in a dangerous area” because it could fall to lower levels if he did not regain USD 110,000.
For Sherpa, “it is logical to assume that some withdrawal will appear in the Red Delivery Zone”, which is between the key resistance line and its ATH level. Meanwhile, Ali Martinez Highlighted For X, this most critical BTC support area is located between level 102,770 to 106,090 USD, where 2.21 million addresses were bought by 1.39 million BTC.
Bitcoin trades on $ 109,995 from this magazine, which is an enhance in the number of a weekly time frame.
A distinguished painting with unmplash.com, chart from tradingview.com
