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The Bitcoin price price drew a keen division line stubborn between the long -term expectations and tiny -term reality. After reaching over USD 111,000 in May, the price of Bitcoins entered the Retraciment phase and is currently trading below USD 105,000. While some interpret the current crisis as a sign of a weakening trend, others perceive him as Textbook amendment.
Among them is the Crypto Masterananda analyst, whose latest chart suggests that Bitcoin is structurally sturdy enough to achieve recent Maksima, but this may not achieve a speculated speculated price in the amount of USD 200,000 in this cycle.
Masterananda provides for a higher target and USD 137,000
IN His commercial postMasterananda clearly stated that Bitcoin is still in a stubborn structure, but believes that the summit of USD 200,000 is beyond the reach of this cycle. Instead, he identified $ 137,000 as a more realistic growth purpose when Bitcoin Finally, she made herself from the ongoing correction.
According to an analyst, the formation of a higher low level on a larger frame will be an critical confirmation that macro growth of macro remains intact. Presented $ 88 888.88 as an ideal level of withdrawal to reach this excellent low level, because it is in line with 0.618 fibonacci and is well above Previous bottom after $ 74,500 April 7.
Despite the current sales, Masterananda claims that a wider trend is vigorous. “Bitcoin will never change below $ 80,000 in its history again,” he said, excluding any deep reversal below the previous lowest level.
On the other hand, the analyst also noticed that if Bitcoin has over 100,000 to USD 102,000, withdrawal will be considered tiny, and the price was still classified as a stubborn continuation than a failure.
If Bitcoin Bulls manages to maintain prices exceeding this area, it would suggest that the current traffic is nothing more than a tiny -term decline. When this moment comes, prejudice will change from tiny to long and rally to $ 137,000. However, a pure break below the price of 100,000 USD would mean a significant change in how long Bitcoin will reach recent and up.
Chart From TradingView: Masterananda
Rlielda reflects Bitcoin support worth USD 101,000
Adding to the analysis, another trader, rlinda, provided a 4-hour chart perspective showing how Bitcoin is currently on a exquisite recovery path. He agrees that Bitcoin is still in a stubborn context, but marked zones 102,000 and USD 101,400 as significant structural support.
Her chart suggests that a false breakthrough at a key level of resistance worth USD 110,000 is the end of a recent rally leg, and the current decrease can be a correction based on liquidity, and not a complete reversal of a stubborn trend.
In addition, the Rlinda analysis shows that Bitcoin has left his channel up. The result, she said, will largely depend on whether the support levels of USD 102,000 and USD 101,400 can persist. The reflection of these levels can lead to a re -test from 106,000 to 108,000 USD resistance zone, in which the market direction may become clearer. If Bulls does not accommodate USD 101,000, it can invite a more dramatic sale that pushes the Bitcoins price towards the local DNA, and even deeper.
Chart Photo from TradingView: RLLEDA
Together, both analysts agree on one thing: the current Bitcoin correction is not yet a full breakdown. At the time of writing, Bitcoin trades for USD 104,290, which is an enhance of 0.5% in the last 24 hours.
A distinguished picture from Unsplash, TradingView chart
