Main points:
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Bitcoin is trading within the narrowing range between 103,500 dollars and 108,800 dollars during the past six days.
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The BTC price must set $ 107,000 as a new support to continue the upward trend.
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The thickness of liquidity indicates that the price of bitcoin may erupt in either direction.
The Bitcoin (BTC) price has been combined within the tightening range of 103,500 dollars- 106,800 dollars since May 30. According to technical liquidity data, Bitcoin’s unification may continue for a few days unless the main levels are broken.
Bitcoin price must be recovered 107,000 dollars to leave
According to a famous encryption analyst, Bitcoin may continue to unify it in its current range for a little longer, especially if the resistance is not broken by $ 107,000.
“This is why this level is vital for Bitcoin,” He said Founder of MN Capital Michael Van De Poppe on June 4 on X.
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He referred to the resistance of more than $ 107,000, which culminated in the latest Bitcoin recovery. According to Van de Bobby, the bulls have to overcome this barrier to start a new gathering to the highest level ever.
“There is no outbreak on it yet, but if that happens, we are along the way to a new ATH and $ 3000 per $ ETH.”
Analyst Gille, the current Training Condition for Bitcoin, may last for a few other days until the price collapses exceeding 105,000 dollars, as the simple moving average is currently for 50 days in the time frame for four hours.
“Bitcoin is still compressed between EMAS, as well as local support,” the analyst He said In their latest analyzes on X, highlighting the main support at $ 103,000.
“Give me another a few days of Chop, drive everyone crazy, then send it up again.”
“As financial stimuli continues in macro conditions in favor of BTC, any bullish outbreak can carry us the highest level ever,” said QCP Capital.
In a post telegram on June 5, the investment company said:
“Some institutional flows appear to be consistent with. The demand for 130 kB calls in September leaks, which hints to the increasing condemnation behind the bullish collapse.”
BTC looks at the end of clouds in liquidity
Data from a monitoring resource Coinglass The thickness of liquidity showed on both sides of the immediate price, as shown in the graph below.
Therefore, traders are looking for liquidity seizure that can lead to the outbreak of either directions from the current range.
“If the market makers are looking for liquidity before paying another, the group that reaches less than 100 thousand looks like the target,” He said The famous bitcoin analyst Alphabtc in the June 5th Publication, adding:
“Sweep 100 thousand and then wait for a vision.”
The Great Trader Columbus argues that Bitcoin will decrease to get liquidity by about $ 100,000 before it rises.
In a post on June 5 on X, Tradel He said:
“The alternative will be that the upward liquidity is removed first and then negative liquidity after that, which would pull everything for a longer period.”
As Cointelegraph mentioned, Bitcoin was unable from the heart of the resistance of $ 106,000 to support earlier this week.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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