The price of Bitcoin fell about 108,200 dollars on Sunday failed to break the level of $ 110,000 again. There seem to be two important factors that bring together the next bull, the RSI levels that extinguish it and the sizes of the missing whale.
The Bitcoin Rally stops to less than 110,000 dollars with Bulls declining
Bitcoin price rose to 109400 dollars on Sunday before declining to $ 108,000, stopping the decisive resistance level of $ 110,000. Despite the calm weekend, BTC continues to print the highest low levels, confirming a bullish unification after breaking $ 10,6100 ever on May 20.
Data Coingecko confirms five daily closure consecutive above this threshold, a bullish sign that shows that most of those who entered above the previous peak are still unwilling to go out.
At $ 10,200 at the time of the press, Bitcoin trades in a narrow range but is still structurally strong in the middle of the period.
Low liquidity on the weekend obstructs the continuous bitcoin gathering. Bitcoin opened a session on Sunday with an upward momentum, reaching $ 109,400 before rejection again at the $ 110,000 barrier.
The assembly faded with the decrease in trading volume, as its total size decreased over 24 hours to 26 billion dollars, or nearly 70 % of Thursday’s height of 75 billion dollars, which prompted BTC to its global peak last week.
Whale transactions decrease by 57 %, as Bitcoin Bulls loses the momentum near $ 110,000
According to data by CoingeckoThe volume of bitcoin whale has decreased sharply over the past 48 hours, which raised new concerns about the exhaustion of the direction near 110,000 dollars. On May 22, the BTC price at the highest new level ever touched at 110,624 dollars, as whale sizes rose to $ 112.6 billion, which is the highest total day in the past month.
However, the activity was reflected quickly. On May 23, the volume of large value transactions fell to 88.5 billion dollars, and by May 24, it collapsed more to $ 48.15 billion. This represents a decrease of 57.2 % in just two days, which reflects the BTC prices closely from 110 thousand dollars to 108200 dollars at publication time.
It reflects the fatigue signals between whales, especially after the aggressive bullish trend between 20 and 22 May, when the volumes rose from $ 73 billion to $ 112.6 billion, which prompted BTC from $ 105,780 to more than $ 111.80.
BTC price The failed attempt to violate $ 110,000 aligned with this decrease in whale activity. This confirms the overwhelming dependence on the request of companies from the likes of the likes Strategy (Microstrategy) and metaplanet and Bitcoin etfTo maintain the upscale momentum.
If the sharing of whales continues to delay less than The average volume of movement for 30 days is 74 billion dollarsBitcoin risks to re -test 106,000 dollars, 107,000 dollars Support area before another collapse attempt.
In order for bulls to regain control, renewed flows of big players are necessary. Otherwise, the market can remain in the range, waiting for a new incentive.
Bitcoin prices analysis: RSI cool
Bitcoin expectations in the short term are a construction with caution, with prices stabilized over $ 106,000, which is now working as support for the company after the rejection of last week near $ 112,000. However, technical momentum is cooling.
The RSI Index has returned to 63.39 of the last levels near 74, indicating that the market is no longer feverish, but also saving the loss of aggressive purchase momentum.
The level of the relative power index puts this BTC in a neutral to sharp area, supporting side unification instead of immediate collapse.
The MACD chart continues to settle, while the MACD line hovers over the signal line. These references are back from the bullish momentum, albeit not yet reflection. The bullish intersection can interact to the upward trend, but any other weakness risk the declining difference.
It is important, Bitcoin holds over SMA for 5 days at 107,856 dollars and SMA for 13 days at 106,216 dollars, which confirms the importance of the $ 106,000 region.
The daily closure below can call this range to further selling towards the range of $ 104,000, $ 105,000, as the support is converging from previous penetration areas and EMAS.
The volume remains modest at 14.03k BTC, and traders will see the return of stronger flows before betting on another gathering over the $ 110.00 area.
Related questions (common questions)
Bitcoin price expectations today indicate a cautious upward trend if subsidies at $ 106,000 carry storage units above 50 billion dollars.
Bitcoin faces resistance at 110 thousand dollars due to a decrease in the size of the weekend and a decrease in whale activity, which stopped the bullish momentum.
Yes, RSI indicates in 74 that Bitcoin is close to excessive conditions that may cause uniformity or short -term correction.
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