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Bitcoin’s price was during the past 24 hours It is characterized by extreme volatility When both the lower and upper limbs touched 98,380 dollars and 103,369 dollars, respectively. The technical analysis of the bitcoin price on the time frame of the weekend On the road to the goal of the price From $ 117,000.
Analyst on the tradingview platform Select a detailed road map For the Bitcoin trip to this target price of $ 117,000, with a highlight of a series of main price areas and market courses to pay attention.
The levels of momentum and resistance on the road to $ 117,000
The technical trend analysis shows that Bitcoin was circulated in an upward channel in a weekly weekly time time since Q4 2024, with the price rising steadily inside the channel. As shown in the graph below, what is more The last 7 -day candlestick is a decliningPay bitcoin to re -test the midfield for this upward channel. This landmark reflects the pressure of temporary sales but is in line with the wider style of corrections within the overall upward trend.
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It is expected to recover from here, which will send Bitcoin on another step towards the upper direction line. Interestingly, the move towards the upper resistance area puts the target price of about $ 117,000, which represents a large milestone for Bitcoin. However, there are still possible negative risks, and the trip is not expected to be $ 117,000.
According to the analyst, Bitcoin may see a decrease in the region between $ 95,000, $ 97,000 and $ 100,000, which may act as a unification zone before Bitcoin resumes its upward path. This region coincides with previous support levels and trend lines, which increases the consolidation of its importance as a critical field of accumulation and stability. The Fibonacci Connective Drop to Tool also suggest that the decline to the range ranges between $ 97,000 and $ 95,000 “Health preparation” for a continuous gathering.
Moreover, temporary resistance near $ 108,000 can slow down Bitcoin climbing. This level is more clear, taking into account the fact that this is the current high This must be overcome. The total long -term structure is still optimistic even with a potential withdrawal, as the highest levels are higher and the highest level on the road map to $ 117,000.
Bitcoin market courses across multiple time frames
The analyst also looked at the Bitcoin market sessions across different time frames. On the daily chart, Bitcoin is currently in the 2th session, which the analyst describes as a stage with a little bit of purchase. Entering the current level carries higher risks, and the 1st cycle will need to return to the entry point. The weekly timeline also reflects the 2th cycle at the top of the scheme. This position is often moved to the 3th session, which may lead to a large price movement either up or down.
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In the time frame for two weeks, the 1st cycle is located but it is also placed at the top, and it is also not a good entry point. However, the removal of a modern sale signal indicates that the immediate risk of Bitcoin Less than $ 97,000 decreased, decreased, But it was not completely finished.
At the time of writing this report, Bitcoin It is circulated at 102,700 dollars It has increased by 4 % in the past 24 hours.
Distinctive image from Istock, Chart from TradingView.com
