Reason to trust
Strict editorial policy which focuses on precision, relevance and impartiality
Created by industry experts and meticulously revised
The highest standards in the declaration and publishing
Strict editorial policy which focuses on precision, relevance and impartiality
Morbi Pretium Leo and Nisl Aliquam Mollis. Quisque Arcu Lorem, quis pellentesque nec, ultlamcorper eu odio.
The recent Bitcoin price activity has been characterized by clear fluctuations while global uncertainties persistespecially after climbing tensions Between Israel and Iran. After plunging almost 5% in the middle of the increase in the geopolitical strain, Bitcoin managed to recover, bouncing over $ 105,000 and currently negotiating about $ 106,800.
The last 24 hours have been highlighted by recovery of bitcoin Around $ 108,000 briefly again, But with increasing tensions in the Middle East, it is a good chance that it can crash soon. This is aligned with a perspective of a cryptographic analyst, who noted that Bitcoin could crash around $ 100,000.
The resistance strip faces a test for bitcoin
According to analyst Crypto Pejman_zwin on the TradingView platform, Bitcoin plane in a confluence of resistance and short liquidation zones, extending from $ 105,330 to $ 107,120. This beach, he notes, is not only an area of structural resistance but also corresponds to the cumulative area of short liquidation lever.
Related reading
Basically, this means that there is a strong possibility of intensified price volatility if this area is disputed or broken. The graphics also reveal the presence of a possible contracting triangle model, which is a downstream continuation configuration in the context of a greater correction.
According to the analyst, if Bitcoin will not recover $ 106,600 in a convincing manner, the structure could go from a corrective triangle to a downward impulse at five waves. This would lead to a deeper retirement, especially since the price already forms lower peaks in the triangle. As such, the more the bitcoin linger in this range of resistance without rupture, the more the probability of a rapid movement towards the rapid low.
Lower and bulls targets
If Bitcoin was to confirm this ventilation, the analyst noted the first main target around the lower limit of the support area, which is between $ 105,330 and $ 103,162. This area is reinforced by the monthly pivot point and also rides the cumulative region of the liquidation lever effect. The one hour candlestick graph has also highlighted a short potential configuration of the inversion zone nearly $ 107,100 and a target planned nearly $ 104,300.
Related reading
Further on, the decline could lead to the price for the next support band around $ 102,600 or even up to $ 101,000, if the liquidation pressure persists. Pejman, on the other hand, stressed that a broken break above the resistance line of $ 107,120 could trigger a bull reversal and push the bitcoin to the heavy resistance cluster above $ 108,000. A daily newspaper above $ 108,000 could cancel the downward perspective. However, not to break above could lead to a rejection and another movement of decline.
Although Bitcoin is Start showing some signs of rising, Its price action is always vulnerable to rapid withdrawal, especially if the tensions of the Middle East continue to take place. At the time of writing this document, Bitcoin is negotiated at $ 106,638, down 0.02% in the last 24 hours. This moderate price action shows its nature of current consolidation.
Pixabay star image, tradingView.com graphic
