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Over the past three days, bitcoin has He floated between 103,000 and USD 104,500Creating a narrow channel after a noteworthy rally, in which it crashed above $ 100,000 last week. The technical analysis of the daily candlestick chart shows the formation of a petite impulsive wave from USD 103,000, which may mean the final end of recent consolidation and the beginning of a fresh rally towards fresh ups.
In particular, recent price shares in the last 12 hours Gradual end of consolidationIN And the attention is now asked to the next one Psychological level for USD 110,000.
The analyst perceives a breakthrough as a signal of continuation of the advantage
In the shared post Social media platform X, Crypto Credibull analyst explained the logic of its current long trade configuration, indicating that Bitcoin broke away from the three -day consolidation zone with an early impulse, which began at USD 103,000. His analysis predicted that this movement could be the beginning of a much larger leg up, especially if the current price structure persists without a return to the local demand zone from 101,000 to USD 102,000.
According to Credibull, the current trade has a tidy level of annulment just below the impulse origin, enabling strict loss of stop. This configuration gives a high ratio of a risk reward exceeding 5: 1, with an additional goal of USD 110 660, as shown in the chart. If this breakthrough is original, it can be a signal that Bitcoin is preparing for aggressive pressure on the fresh ups of all time.
On the other hand, Credibull warned that if the current movement turned out to be a deviation and the price drops below impulse origin, focus should go to the local demand zone by about USD 101,800. The chart supports this clearly marked with a green area marked as “local demand”. This is another sedate support if Bitcoin Bulls fails To maintain current price levels.
$ 110,000 Bitcoin Cell in sight with the enhance in market momentum
According to a cryptographic analyst, it has to anticipate the next move to $ 110,000 at least 20% chance of playing. These opportunities are quite nice, considering the unpredictable nature of the cryptographic market.
In particular, in the price in the last 24 hours, the leading cryptocurrency break again above USD 105,000, reaching a maximum of USD 105,5,53 before it slightly alleviates. This movement strengthens the case that recent consolidation The phase could end And a successful traffic above USD 110,000 before the end of the week.
At the time of writing, Bitcoin trades for USD 104,428. A successful rally to the destination 110 660 USD would be a 6% enhance from the current price, while the risk of decline is constrained below USD 103,000.
A distinguished picture from Getty Images, chart from TradingView.com
