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The appearance of bear science on the graph for four hours decreases the price of bitcoin to $ 97,000.
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Traders say the BTC price may decrease to $ 85,000 if the main support levels are broken, including the psychological level of $ 100,000 and the annual opening is about $ 92,000.
The price of Bitcoin (BTC) is a classic decline on low time frames, leading to fears that the collapse can lead to a decrease to $ 97,000.
Bull Flag Breakout refers to the goal of 97 thousand dollars
The Bitcoin price movement formed a pattern of tusk textbooks on the graph for four hours, which is a declining continuity that was formed when the price merges up to a parallel channel after a sharp declining move.
In the case of Bitcoin, the flag began to cost after BTC reached about $ 103,100 on May 31. Unification continued during the weekend, while continuously re -testing the support line.
The continuation of the decline will be confirmed as soon as the price out of the bottom limits of science at 104,800 dollars. The negative goal of the pattern is now sitting near $ 97,690, and it is measured after adding the initial flag running to the penetration point.
Momentum indicators, including the RSI index, are also supportive, with RSI in 44 years, indicating that market conditions still prefer the negative side.
See these bitcoin prices in June – merchants
Data from Cointelegraph Markets Pro and Tradingvief He explains that the BTC/USD pair has decreased by 6.3 % of its highest level ever above $ 111,000.
While the BTC price closed by 11 % in May, traders are wondering about the trend in which the price may advance. The month of June historically produced mixed results with an average of 0.3 % losses.
For the famous Daan Crypto Trades, the medium range is at $ 99,600, and the previous height ever at $ 108,000 are decisive levels of monitoring during the first week of June.
“I think there is a good opportunity for the first week to be a step that can fade when seeing the first signs of local repercussions” at any of these points, trading He said On June 1 on X.
Related to: Bitcoin 200 thousand dollars “clear”, the first BTC Gamestop: Hodler’s Digest, from 25 to 31 May 31
The accompanying graph showed that a break more than $ 108,000 will witness the rise of the BTC/USD pair to a height of $ 111,900 ever, as it is possible that it will meet strong resistance, leading to a decline to the range.
Likewise, a break less than $ 99,600 will witness a decrease in the husband before the funeral was found from the simple moving average for 200 days at 97600 dollars.
“There is no strong bias towards any of the two directions here, so it will remain smart and play with what I get.”
“It seems that BTC has started a greater correction, which is likely to take until the second week of June,” He said Alphabtc analyst colleague on June 2 on X.
According to the analyst, the collapse of bear science in the time frame for a period of four hours may witness a decrease in the price of bitcoin towards the demand area of $ 102,000. Loss of this support would lead to an annual opening above $ 92,000 in the image.
“The question will be what is happening in about 92 thousand?” Alphabtc asked, adding that if there is an opportunity to buy, BTC can refresh from here to start a continuous recovery in discovering prices.
On the contrary, if the tariff tensions continue, BTC may decrease beyond $ 85,000, as shown in the graph below.
As Cointelegraph mentioned, Bitcoin merchants analyze the weekly and monthly closure of signs regarding the time when BTC price procedures can go, as psychological levels amounted to $ 100,000 and $ 97,000 from the remaining main areas.
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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