Bitcoin (BTC) has been trading less than $ 100,000 since February 5, and has been facing continuous resistance despite recovery attempts. Modern indicators indicate that sellers have gained control, as the directional movement index in BTC (DMI) showed an increase in downtown pressure.
However, the Ichimoku cloud indicates a possible reflection if Bitcoin can break over the key resistance areas. In the event that the upholsome Momntum return, BTC can test the resistance of $ 97,756 and possibly restore $ 100,000, with $ 102,668 as the next goal.
BTC DMI shows that the sellers have received control in the past 24 hours
The direction movement index in Bitcoin (DMI) currently shows the average trend index (ADX) at 21.2, after touching 22.9 for a short period, from 15.5 days ago.
ADX measures the strength of the trend without indicating its direction, ranging from 0 to 100. The above values usually indicate a strong direction, while values that are less than 20 indicate a weak or luxurious market.
With ADX is about 21.2, the Bitcoin direction is relatively weak, indicating a possible transitional period.
This indicates that the momentum of the previous upward trend loses steam, and may lead to a reflection or beginning of the declining direction.
Meanwhile, the price of Bitcoin’s +DI is 15.5, a decrease from 23.3 just one day ago, indicating a decrease in the upscale momentum, while -Di rose to 21.9 out of 9.2, which reflects the increasing declining pressure.
This intersection, where -Di moves over +Di, indicates that the sellers control the market, which may indicate a shift from the bullish direction to the declining direction.
If -Di continues to rise and remains +Di is weak, you may see bitcoin increase the pressure pressure and a potential decrease in prices. However, if +Di and the apostasy settled, Bitcoin may merge before choosing a more specific directional step.
Bitcoin Ichimoku Cloud draws a Haboodian image, but it may change soon
The Ichimoku Cloud scheme for Bitcoin shows a mixed look with early signs of potential recovery. Blue Tenkan-Sen Line is currently located above the Kijun-Sen Red line.
This intersection indicates that purchasing pressure is trying to recover, which may support a potential upward step.
However, the price of Bitcoin is still less than the Kumo cloud, indicating that the total trend remains down and that the resistance is strong higher than the current levels.
The como cloud forward is thin and turns slightly up, indicating that the declining momentum may weaken. If Bitcoin is able to break the cloud, this will indicate a possible reflection of the direction, especially if Tenkan-Sen continues to drive over Kijun-Sen.
On the contrary, if Bitcoin fails to break the cloud and decrease the Tenkan-Sen below the Kijun-Sen again, this will confirm the continuation of the declining direction.
Currently, Bitcoin is facing a decisive resistance area, and the next step will depend on whether it can wipe the cloud or reject it down.
Bitcoin can return to $ 100,000 very soon
Bitcoin was about to form a new golden cross yesterday before the BYBIT penetration caused a sharp drop from 98,000 dollars to approximately 95,000 dollars within four hours.
Si -moving average lines (EMA) are still downward, with EMAS mode in the short term less than long -term lines, indicating the constant declining momentum.
This declining setting indicates that the sale pressure is still dominant. If sellers continue to control the market, Bitcoin can re -test support at $ 94,818, which was preserved during yesterday’s decrease.
If this support erupted, Bitcoin may decrease to $ 93,415, and the decline can continue to push it to less than 91,300 dollars.
However, if the bitcoin price is able to recover from this decrease, there are signs that the downward trend may not be as strong as it seems.
The ADX and Ichimoku cloud indicates twice the declining momentum, indicating that the reflection is possible. In this case, Bitcoin can test the resistance at $ 97,756, and if this level is broken, it may rise to $ 100,000.
If the upward trend gains more momentum, Bitcoin may continue to climb to test 102,668 dollars, which represents its highest level since early February.
Disintegration
In line with the guidance of the confidence project, this price analysis article is for media purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always perform your research and consult with a professional before making any financial decisions. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.
