On Thursday, Bitcoin (BTC) prices fell to below USD 101,000, because the fall between US President Donald Trump and the richest man in the world Elon Musk shook American financial markets. However, in the last 48 hours, the virgin cryptocurrency has registered the reflection of the climbing to over $ 105,000, after which it slipped into the side movement. Among these events, a popular cryptographic analyst with the 10th nickname KillaxBT presented many scenarios of the next Bitcoin action.
Behind the bitcoin reflection from $ 100,000
IN X Post On June 7, KillaxBT provides a deep technical analysis of the Bitcoins market discussing the last price reflection and potential development. After reaching the modern highest all time, nearly USD 112,000 on May 22, BTC entered the corrective phase falling by about 10% in the price range of $ 100,000 before a recent reflection in the last two days.
KillaxBT explains that this reflection is not random and was driven by a combination of technical and market factors. These factors include the daily imbalances of FVG and the approval of the volume, which are ineffectiveness filled with prices left on the chart.
In addition, there was a sweep sweep, because a constant decrease in Bitcoin reduced prices below the previous weekly minima, which causes many losses from long positions. This development caused liquidity flow for gigantic players, which served as fuel in conducting market reflection.
Finally, Killaxbt talks about the miniature Squeeze configuration, in which the Bitcoin market became miniature when traders expected another decline at an initial price from $ 100,000. When the prices began to rise, these miniature -borne traders had to buy back to cover their losses, adding more fuel to the rally.
What next for BTC?
Looking to the future, KillaxBT emphasized three potential scenarios for BTC. Currently, analysts state that the Prime Minister of the cryptocurrency again resists the retaining zone from 104 800 to USD 106,000, which is in line with Fibonacci Fibonacci’s slimming levels in the last decrease in prices.
In the first scenario, KillaxBT predicts a stubborn continuation only if Bitcoins are bursting and remains over this region of resistance. Such a movement can again imprison miniature sellers, potentially fueling the further shoot of the rush mountains.
However, if Bitcoin is in the face of rejection in this specific area of resistance, the second scenario enters, in which the price will probably fall and complete the support level of $ 100,000 again. The third, last and worst scenario of the housing includes a price break below $ 100,000 leading Bitcoins in order to re -test the support zones around the region prices of 97,000 USD.
Interestingly, KillaxBT’s personal forecast expects market manufacturers continue to escalate the Bitcoins price, using the recent piercing reflection, which caught many miniature traders. Without the “safe” long entrance, the analyst suggests that further pushing prices would stop more miniature sellers, forcing boxing bulls to prosecute the rally
During the BTC press, it still trades for USD 105,600, reflecting an escalate of 1.16% on the last day.
Recommended photo from Istock, chart from TradingView
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