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Bitcoin is trading with a confidence above $ 100,000, after recently celebrated a local level near $ 104,300. After months of the volatile movement and uncertainty, the bulls are now in a state of control, and the momentum is through the broader encryption market. Since BTC re -testing the major supply levels last near the highest level ever, optimism is that this penetration may be a higher ongoing step start.
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The entire market seems to wake up, as Altcoins flows during the Bitcoin era and liquidity again to the origins of danger. Traders closely monitor if BTC can maintain this force and turn $ 100,000 into strong support.
Big Cheds analysts shared a technical update that highlights the 4 -hour structure of the current plans, noting that BTC exposed a bullish unification. This style usually indicates continuity, as the price ripens slightly less than the resistance before trying to collapse. With no signs of exhaustion yet, the preparation indicates that Bitcoin may have more space for operation, especially if the bulls can keep the momentum during the weekend.
Bitcoin tested the main resistance amid a climb momentum
Bitcoin has increased strongly over the past few days, as it has penetrated multiple resistance levels and a brand of $ 100,000 with condemnation. It is now trading near 104,000 dollars, BTC is facing a critical resistance area that can determine whether the gathering continues towards its highest levels ever-or stop monotheism. This level coincides with the upper limits of the previous supply zone and has become a pivotal point for both bulls and bears.
While the price movement is still clear, the conditions of the macroeconomic economy are still risks. The ongoing global uncertainty, concerns about inflation, and narrow monetary policies from central banks can affect the origins of risk in the short term. If the external feeling or shocks are up to the market, Bitcoin may suffer from a decline despite the recently built structure.
The bad guys presented visions In the current Bitcoin setting, it highlights that the 4-hour chart shows a “high and narrow” bullish unification-a classic continuation pattern. According to Cheds, this composition reflects the strength, as BTC is combined at high levels instead of retreat, indicating that buyers remain in control and absorb any sale pressure.
If Bitcoin managed to press over the $ 104,000 sign with its size, the next logical goal will be a test of the previous height at all about 109 thousand dollars. However, merchants should remain cautious. Despite the bullish technical preparation, short -term fluctuations and external market risk may lead to sudden repercussions.
Currently, Bitcoin holds a bullish bias, and as long as it continues to integrate more than 100 thousand dollars, the issue of continuing remains sound. The next few sessions will be crucial in determining whether BTC has the power to go out or need more time to build.
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Price analysis: forming an upper structure
Bitcoin is currently trading just over $ 103,000, and uniformity after marking at the level of $ 104300 earlier in the day. The price procedure confirms that the bulls are firmly controlled, as it regained the level of 100 thousand dollars with strength and disinfecting multiple layers of resistance. However, the graph shows that BTC is now testing a major supply zone ranging from 103 thousand dollars and 103.6 thousand dollars – a level that was resistance in January and February.
The size has risen in the last days, indicating a strong demand behind this penetration. However, the latest candle shows a long upper tail, hinting of some short -term sale pressure as BTC faces an upper resistance. If Bulls managed to pay above 103.6 thousand dollars with a sustainable size, it may follow the outbreak of the highest level of $ 109,000 ever.
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On the negative side, the level of 100 thousand dollars is now working as immediate support. Below, the areas amounting to 95 thousand dollars and 90 thousand dollars – previously monotheistic areas – can provide additional structural support. The simple daily moving average for 200 days (SMA) remains at 91,227 dollars, and the 200 -day SIA moving average (EMA) at 87,004 dollars is much lower than the current price, which enhances the strong upward trend.
Distinctive image from Dall-E, the tradingView graph
