Chefir analyst revealed that the price of bitcoin has reached a critical operating point that could ignite a Gathering. If the cryptocurrency is able to keep it over this main threshold, then opportunities New identification Ever It is most likely to become increasingly.
Bitcoin price faces resistance on the road to the new ATH
On March 25, Crypto TradingView expert participated as “Cryptorphic” Bitcoin price analysis On a 4 -hour time frame scheme of Binance. analyst I mentioned BTC settled at a bullish moving point – a The main resistance area This was historically a great obstacle to the encrypted pioneer currency and could determine the next price step.
According to the analyst’s scheme, Bitcoin tried to break this critical resistance point with $ 91,375 but faced rejection. Looking at continuous The struggle at this level of priceThe cryptocurrency will require a significantly stronger and largest momentum for hacking decisively.
Cryptorphic highlights that if the BTC price remains less than the resistance level, and the path The market will remain inaccurateIt may lead to an additional struggle in Altcoins. However, a clear outbreak can ignite from the bullish trigger point this strong and reflection direction The last bitcoin price decreased.
It is worth noting that the analyst’s scheme shows that Bitcoin may constitute an ascending wedge, a pattern that can either lead to prices or collapse. The price of Bitcoin is currently in the upper limits of this Ascending spoiler styleCompatibility with the long -term descending trend line, which represents the level of the above resistance and the upholstery point.
As he said earlier, the collapse over this area can lead to a crowd, with access to $ 109,588 and exceeding previous ATHS. Earlier this year, the price of a new BTC ATH is about 109,036 dollars The opening of the US presidency Donald Trump On January 20, 2025. The historical price increased was driven by excitement and the morale of the surrounding market Trump’s political campaignWith the expectations of political transformations and the most convenient encryption regulations.
If Bitcoin follows the Cryptorphic analysis path and reaches $ 109,588, it will represent a 0.5 % increase in the current ATH and an increase of 24 % of its current market value of $ 88,218.
BTC Case Screenplay
While Cryptorphic is still optimistic that Bitcoin can reach a new ATH in this bull cycle, the analyst has also identified a huge scenario, warning that the other rejection at the resistance level 91,375 dollars can lead to a Correct a deeper price. The most prominent Tradingview expert is many levels of price that could be an important task Bitcoin support area.
If BTC is recovered from the resistance level, it is expected to save price levels of $ 85,076 and $ 82,360 support. The strongest support lies in about 76,606 dollars, which will be the next main level in the event of a stronger decline.
Distinctive image from Unsplash, Chart from TradingView.com
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