The price of bitcoins is still impressive this weekend, it recovers very well after the blues from the tardy week, in which it fell to USD 101,000. From a broader perspective, BTC will aim at the USD 110,000 sign and wants to recover the price of all time. When the most vital cryptocurrency is already closed at USD 106,000, the question is – where is the next obstacle in this recovery journey?
The price of BTC is in the face of considerable resistance above 106 thousand. USD
In the novel post on the social media platform x analyst in the beetroot chain revealed Two main levels that can be crucial for the trajectory Bitcoin prices half -to -long to long -term. This analysis is based on the completed price of a specific class of investors called compact -term owners (STH).
Brief -term Bitcoin owners are known for their reactive and speculative nature, because they are often triggered by sudden price movements. That is why these investors tend to open and close their positions in the compact period.
In his post at X Kesmeci, he revealed three vital levels based on completed investors’ prices within some unsweetened age -old transactions (UTXO). In particular, the analyst in the chain emphasized the basics of investor costs during 1 week-4 weeks (USD 106,200), 1 month-3 months (USD 87,300) and 3 months-6 months (USD 97,500).
Source: @burak_kesmeci on X
According to Kesmeci, the price of bitcoins may encounter a significant resistance of around USD 106,200, at which investors 1 weeks-4 weeks have their basis for costs. The justification for this is that STH with a loss can close his positions when they return to the basis of costs, which leads to inheritance pressure and resistance levels.
On the other hand, Kesmeci also emphasized the completed price (USD 97,500) short-term investors within 3 months of 6 months as another critical level of Bitcoin price. The analyst mentioned about investors in this class may consider moving to this completed price as an opportunity to defend their positions, which led to the creation of a cushion of support.
Basically, this piece of data on the chain suggests that the price of bitcoins can approach a high level of resistance slightly above USD 106,000. If he successfully violates this level, investors can see how the most vital cryptocurrency has returned to the highest level of USD 111,871.
Bitcoin price at first glance
From this letter, the price of BTC is about USD 105,200, which reflects the augment of 1.3% in the last 24 hours. According to data, Coingecko market leader has increased by more than 1% in the last seven days.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
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