Bitcoin faces strong resistance at the level of 97 thousand dollars, with a highlight of a continuous battle between buyers and sellers. However, the current price procedure indicates a possible corrective stage before any decisive outbreak.
Technical analysis
Daily chart
Bitcoin continued to increase its rush after breaking it over the threshold of $ 90,000, as it reached a resistance area of $ 97,000. However, the bullish trend temporarily stopped at this critical level, as the price is struggling to break it. The last monotheism, near 97,000 dollars, reflects the existence of the offer and a clear battle between buyers and sellers.
In addition, through the moving average for 100 days less than the moving average for 200 days, which constitutes a cross for death, which may indicate the weakening of momentum. Given the current structure, Bitcoin appears to be prepared for a short -term corrective decline or unifying about 90 thousand dollars before any possible outbreak over the resistance of 97 thousand dollars.
The graph for 4 hours
Within the minimum time frame, the Bitcoin’s struggle is at a mark of $ 97,000 more clear. After reaching this resistance, the price gradually lost the bullish momentum, as it entered a standardization stage between 93 thousand dollars and 97 thousand dollars.
The noticeable rhythmic difference between the price and the RSI index indicates that sellers gain strength. This also supports the possibility of short -term correction. As is the case, uniformity or a simple decline within the range of 93 thousand dollars to 97 thousand dollars is the most likely scenario before the market acquires enough momentum to violate this resistance.
Series analysis
By shayanmarkets
While Bitcoin is reinforced at a major level, the analysis of the futures market measurement provides a valuable vision. The chart displays the Heatmap BTC/USDT Binance, highlighting the main liquidity pools that can attract price movement.
As shown, there are two important liquidity regions – one above the level of 97 thousand dollars and another less than 93 thousand dollars, both near the current price. These areas are likely to be targets for smart money to operate retail traders qualifiers. The collapse that exceeds any threshold may lead to a liquidation chain and amplifies the subsequent step.
Given the general budget of the market, a temporary decline is less than 93 thousand dollars is possible before Bitcoin tries to outbreak over the resistance of 97 thousand dollars.
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Crossed currency plans By TradingView.
