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This article is also available in Spanish.
Bitcoin price in the last 24 hours has seen it slowly recovery from the zone $ 104,000 It started a week at This range has become particularly significant, because Bitcoin continues to flirt with the levels last seen during the last pressure to the up-to-date highest levels of all time. Bitcoin’s price movements in relation to The past two days have tightenedAnd the behavior of candles on the weekly chart led to the formation of the DUJI in the weekly time of the candlestick, indecision index.
Interestingly, the technical analysis of Tony’s cryptographic analyst “The Bull” Severino emphasized critical levels that will determine whether the bitcoin price is Replace the bear or still stubborn.
Mixed signals: why the current resistance zone is crucial
Severino “The Bull” cryptographic analyst provided the chart and in -depth division On the Social Media platform X, indicating the level of horizontal support and resistance as the most critical technical indicators in his opinion. As shown on his weekly Bitcoin chart, they lead cryptocurrency is now pressing on a well -defined resistance zone just below its all time, clearly marked in red. . The proximity of this level to his highest time This means that it can act as a ceiling, making it an critical area to observe a breakthrough or reversal.
Tony presents three possible interpretations of the current market structure around the resistance level of USD 108,000. A glossy matter is based on the consolidation of Bitcoins in resistance, and the formula often continues up. It is a neutral case that Bitcoin can create a wide commercial range, in which the case is meaningful miniature resistance when buying near support. On the bear side, the presence of a candle on this key level can be a sign of a disappearing momentum and Early price reversal signal.
His trade strategy reflects this uncertainty. He placed miniature positions in the red resistance zone, with a loss of stopping just above the high level of all time. At the same time, he determined the order, stop in the Green Breakout zone above all time, ready for a long switching, if the price of Bitcoins convincingly breaks resistance.
The conditions of a stubborn breakthrough are not yet met
Although Tony noticed that the wider investment market, including Altcoins and the stock exchange, looks robust, warned that this did not guarantee stubborn breakthroughs for Bitcoins. In order to confirm, the stubborn explosion must be preceded by equalizing various technical indicators. They include a breakthrough with a significant commercial volume, RSI reading above 70 on a weekly chart and weekly close to the upper Bollinger team.
At the moment, however, the Futures CME Bitcoin CME chart did not exceed 70 on the Daily RSI twice and the volume of trading will fall. According to Coinmarketcap, Bitcoin trade size is USD 44.33 billion in the last 24 hours, which is a reduction of 11.40% compared to the previous 24 hours. These are early warning signs that a breakthrough attempt may not have the strength needed for sustainable development.
Nevertheless, the conditions are still very mixed and start slim more stubborn than bears. At the time of writing, Bitcoin trades for USD 102,52, which is a decrease of 1.31% in the last 24 hours.
A distinguished picture from Pixabay, chart from tradingview.com
