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Bitcoin has faced a lot of resistance above $ 110,000, indicating that the bears are trying to prevent digital assets from regaining their high levels at all. This has been clear with multiple rejection operations that exceed $ 110,000 in the past few days, while The bulls got support above 108,000 dollars. This trend plays in an analysis published by Crypto Tehthomas analyst, which expected rejection of $ 110,000. But the most interesting thing is the place where Thomas sees the price that moves from here.
Bitcoin can decrease for shallow decline
In the analysis, Thomas Make up What happens with the price of bitcoin and why withdrawal occurs. This begins to collapse after the fall of about $ 100,000 and then a liar again. Digital assets managed to quickly scan multiple valuable value gaps on time frameworks for 4 hours to demand their spots over $ 110,000.
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The encryption analyst explains that this step has sparked a shift in feelings towards positivity, and this was followed by increasing sizes, as well as impulsive candles. In all, this is a completely ascension to the cryptocurrency. However, there is still a risk of low price from here.
After filling the multiple fair value gaps strongly, the encryption analyst believes this has set a precedent for bitcoin price. Expected The same style to play For the encrypted currency, which includes a rapid rise before shallow withdrawal, then continuing from there.
BTC decline to a $ 104,000 region
It seems that the price of Bitcoin exceeding $ 110,000 has created a fair value gap less than $ 107,000, which the encryption analyst believes will need filling. If this is the case, it is possible that the price continues until this condition is fulfilled. However, the decline to the level will not be landfill, but rather provides a point that bounces back to price recovery.
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Thomas referred to this trend as “a classic-filling sequence”, and the next thing in the queue is to fill the fair value gap. According to the joint plan, the encryption analyst believes that the decline takes the price Returning to less than 105,000 dollars And in an area of $ 104,000 before its next bounce. This means 5 % withdrawal, and by trends this year so far, which will be bad for Altcoins.
However, the conclusion remains that Bitcoin is still optimistic about here. Once the fair value gap is full, it is expected that there will be a strong boost up, and perhaps towards its highest levels ever. The analyst said: “I expect a tight controlled alternative to fill the new 4H imbalance, and after that the price can continue to push towards the main resistance area,” the analyst said. “The momentum is clean and organized – until it changes, the continuation remains the most likely path.”
Distinctive image from Dall.e, Chart from TradingView.com
