Bitcoin exceeded its highest level ever at 109 thousand dollars earlier this week, reaching a new rise of 112 thousand dollars. Nevertheless, the price shows a simple bullish momentum, indicating a possible unification of this short -term level.
Technical analysis
Daily chart
Bitcoin has officially broke its highest level at 109 thousand dollars, which led to a new summit around a $ 112,000 region. This penetration emphasizes the interest of the strong buyer and highlights the upscale feelings that continue to fuel this course.
However, the latest price procedure indicates that the upscale momentum followed, as BTC has started a slight decline towards the level of $ 109,000. This field now works as a decisive support zone. If the renewed demand is achieved at this level, Bitcoin can resume its upward path towards a sign of $ 115,000 and perhaps higher.
On the contrary, if the pressure pressure is intensified and the level of $ 109,000 fails to keep it, a deeper correction may be revealed. In this scenario, the re -testing of psychological support with a value of $ 100,000 is increasingly possible, which is likely to be classified as a bull trap, the investor’s confidence is shaken, and the short -term fluctuations.
The graph for 4 hours
On the graph for 4 hours, BTC maintains the bullish market structure, with a clear sequence of its highest level and its highest level. The price is constantly respected upward trend line, which is still a major dynamic support.
After penetration, Bitcoin is currently returning to this trend line in addition to an increase of $ 109,000. This meeting area will play a pivotal role in determining the next step. In the event of its steadfastness, the renewed gathering towards the resistance area, which is valued at $ 115,000.
However, if Bitcoin fails to keep this level and break below the direction line, it will indicate a short -term weakness, and open the door to correction towards a range of $ 100,000.
Series analysis
By shayanmarkets
While BTC has reached the highest new level ever at 112 thousand dollars, it is naturally expected a wave of profits, especially from the short -term traders who get gains. However, the deeper view of the scales on the series reveals a contradictory novel between long -term holders, and investors who have occupied BTC for more than 150 days.
LTH-OPor remained relatively low during this gathering, especially when compared to the levels seen during the Bitcoin increase to $ 73,000 in late 2014. Although the price is much higher, long-term holders do not show signs of the main profit. This refers to the continuous accumulation behavior, which reflects confidence in the highest future assessments.
This difference in behavior highlights that the current monotheism stage is likely to be driven by their owners in the short term and retail participants, instead of distributing the broader market. If long -term holders continue to offer condemnation, Bitcoin is in a good position to resume its upward direction after this short term in the short term, with the possibility of setting new ATHS in the medium term.
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