For more than a month, Bitcoin remained above $ 100,000, which is a bullish achievement itself. However, the fact that he was unable to break above $ 110,000 with any degree of certainty began to cause some anxiety. Bitcoin has regained $ 10,900 after reaching a little bit of time High.
It currently stops when great resistance and may lose momentum. Technically, Bitcoin is still higher than three important influential averages: EMA for 50 days (105,750 dollars), EMA for 100 days (103,011 dollars) and EMA for 200 days (98,082 dollars), indicating that the total trend is still valid. On the other hand, modern candles show a frequency close to the resistance, and the volume has decreased steadily.
Instead of preparing for penetration, this may mean that Bitcoin moves to a long -term unification range ranging between $ 100,000 and $ 110,000. Bitcoin’s basics is currently in a more important condition. Bitcoin’s basic power has not changed, according to the basic Bitcoin index in Swissblock (BFI), which integrates network growth and liquidity.
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Often the cutting point for healthy momentum is not broken by the 60 level by BFI, which is currently hovering in the neutral area. BTC does not have the momentum to overcome the resistance and move to the discovery of prices in the absence of a noticeable increase in flow or network activity. If this lack of basic momentum continues, traders and institutions may start achieving profits, which may cause the price to drop to less than 105,000 dollars and perhaps less than $ 100,000.
The market may be corrected towards EMA for 200 days about $ 98,000 or in a more extreme scenario to $ 90,000. This would be possible if this psychological support is broken. Although Bitcoin exposes flexibility, there are also red flags. Without new flows and network growth, there will be no outbreak, so the coming weeks are decisive for the mid -origin path.
