Bitcoin had a recovery trend after a drop below $ 100,000 last weekend. Breaking this psychological level was undoubtedly demoralizing development. However, the largest cryptocurrency according to market capital returned, pushing in the direction of USD 108,000 before reaching resistance. This resistance has become the main obstacle in the campaign for modern ups of all time, and with a momentum falling at this level, it has some bears implications for the price.

Bitcoin Resistance claims that the failure may be coming

In the tradingview post, Crypto Analyst Firstnamehelelen, outlined The level of resistance, which Bitcoin has not overcome, and this now drives the bear. The analyst emphasizes USD 108,200 and USD 108,800 as an anxiety, and it was there Significant resistance For the price of bitcoins.

According to Helen, this level was previously the ceiling of prices, and therefore was essential. However again Breaking of resistance It failed, and this suggests that the bears are still strongly controlled by the price.

After this pushing, the price of Bitcoins consolidated below the level of support in the last few days. Although sometimes this can mean a rush meeting to facilitate the next upward movement, the cryptographic analyst explains that this means hesitation on the market. Because investors do not want to go forward and be careful, the potential of the bear increases with the enhance in pressure.

The ability to reverse only indicates a brief -term rally, and not a eternal upward movement that could reach modern maxima of all time. Unless the price sees the final break through the resistance and does not reach the level of USD 110,000, it will probably continue the decline.

In the lithe of the Bear Pressure, Helen predicted that the price could go down towards the next level of support. It is USD 103,000 when the repair wave changes in motion. It also coincides with the falling trend line from the top of the middle of June.

If this weekend takes place similar to the last weekend, the price of bitcoins may look at another An essential disaster that can send it below $ 100,000 Again. In a 10% of the disaster, it would cause re -lost in the June minima, especially when it abounds in the war in the Middle East. However, if the rush increases again, it may be possible.

At the current level, the price of Bitcoins is only about 5%that it breaks its highest level of USD 111,900. Meanwhile, the Altcoin market is still fighting because the prices are at a low level.

A distinguished picture from Dall.e, chart from tradingview.com

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