Bitcoin faced remarkable sale pressure in a range of $ 111,000, which led to a declining rejection. However, the price lacks adequate bullish momentum and seems to be a reasonable correction in the middle of the period.
Technical analysis
Daily chart
After the outbreak of the highest level of the previous ever at 109 thousand dollars and the printing of a new peak at 111 thousand dollars, Bitcoin achieved strong resistance that sparked a significant sale pressure. Failure to maintain momentum above this main psychological level led to a declining rejection, which prompted the original below the threshold of $ 109,000.
This basic procedure coincided with the sweeping of liquidity by the purchase that rests over the height of the swing, allowing smart funds to implement sale orders efficiently. As a result, the market entered a corrective stage, where it is now approaching the daily fair value gap (FVG) between 97 thousand dollars and 100 thousand dollars. This area is likely to have a great demand, and it may act as a support zone that can lead to a bullish reaction.
If this price is stable within this FVG, a recovery becomes a potential resistance of $ 111,000. On the contrary, failure to keep this level can pave the way for more negative aspect, with the following main support that lives near the 95,000 dollar area.
The graph for 4 hours
In the time time frame for 4 hours, extensive sale pressure when resisting $ 111,000 caused a lower BTC to collapse than a pre -preserved upward price channel. The subsequent decline to the boundaries of the broken canal near 108 thousand dollars affirmed the declining collapse and suggests twice the momentum.
Currently, the price is unified within the critical support range that extends from $ 100,000 to 108 thousand dollars. As long as Bitcoin remains within this range, it is expected to fluctuate in the short term. However, the decisive penetration, either above 108 thousand dollars or less than 100 thousand dollars, is likely to be determined, either with bullish recovery or extensive correction based on the direction of collapse.
Series analysis
The price investigators for mid -term holders was constantly working as a pivotal support or resistance area, making it a valuable indicator to measure the broader market morale. This scale, which represents the average cost of acquisition of the UTXOS chain that investors in the long run, is in line with the main turning points in the bitcoin price cycle.
Currently, Bitcoin remains in a position higher than the price achieved for a 3-6-month standing category, which is a sign that this group remains in profit and did not face great pressure. However, the last sale pressure and rejecting the level of $ 111,000 has withdrawn the price closer to the price of a 3-6-month-old holder, which is located around the area of 98 thousand dollars.
This puts an area of 98 thousand dollars – 100 thousand dollars in the lighting of a decisive support zone. A fixed reaction from this region would confirm the constant confidence of mid -time holders and may serve as the launch platform for its renewable upward leg, and may push bitcoin to its highest levels ever. However, failure to obtain this support can transform morale in the market and open the door to deeper corrections.
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