Bitcoin faces a decisive test because it merges less than its highest level ever, which leads to the temptation of price discovery. After marking a mark of $ 112,000 for a short period, BTC fell slightly, and fluctuations rose, making investors not sure the next direction. While some people fear a possible correction, many analysts remain confident that the upward trend is still intact, indicating strong support levels and indicators on the chain that supports the upscale state.
Despite the recent fluctuations, Bitcoin continues to stick to a level of $ 105,000, while maintaining a bullish structure and maintaining market morale optimistic with caution. Traders are now monitoring a decisive step that can confirm the outbreak of resistance or sweeping liquidity below before the next height.
Supreme analyst Jelle shared data on the series that highlights the current position of the MVRV Z-is a major scale used to measure whether Bitcoin is an exaggeration in its estimation or reduce its value in relation to historical standards. According to Jelle, Score Mvrv Z is still far from the red region levels usually associated with the abuses of the cycle, indicating that there is still a lot of space for the market growth. Since BTC holds fixed and macro conditions, the next sessions can form the next explosive stage in the continuous bull cycle.
Bitcoin hovers near its highest levels with the passage of the market, penetrating confirmation
Bitcoin is traded higher than critical levels, holding a top of $ 105,000 and maintaining momentum near its highest level ever. After weeks of climbing and absorbing total economic uncertainty, BTC is now facing one of its most important resistance levels. The clean interruption of this area can be the trigger for full expansion in the discovery of prices, indicating the following explosive leg of the bull market.
This week it can be decisive. The Bitcoin structure is still bullish, with a series of lowest levels and a fixed size that supports the upward trend. However, the fluctuation has increased in recent days, indicating that despite the control of bulls, the market still weighs its next plan. The failed collapse can lead to a decrease in low support, with the stability of the main demand areas about 103,600 dollars and 100,000 dollars.
However, references to the chain still bearing ascending. The generation highlights the importance MVRV Z-ScorHA historical indicator that measures the market value of Bitcoin in relation to its achieved value. Historically, historically in red with the approach of Price Peaks-Yet, according to Jelle, MVRV Z-Score “does not even come close to a signal flashing at the present time”, indicating that there is still a great ample treatment of ascension.
This combination of price stability above support, general expenses of technical resistance, and healthy background on the chain places bitcoin in a pivotal position. The collapse of more than $ 112,000 may ignite the discovery of prices and speed up the upward trend across the market. But as long as the BTC remains in the range, traders should remain cautious and prepare for fluctuations in the short term. The direction of Bitcoin is likely to determine the market tone of the market to the second half of 2025.
BTC rejected a level of 109 thousand dollars
Bitcoin is currently trading at 107,044 dollars on the graph for 4 hours after facing the rejection of the resistance level of $ 109,300-a major area that has been going up bullish several times in the past two weeks. After a short batch of more than 109 thousand dollars, BTC failed to keep the exit and has been recovered since then, and has now experienced a medium -term support area in line with the averages of 50, 100 and 200 simple (SMAS), which are all collected between 106,000 dollars and 106,400 dollars.
This group of moving averages now works as immediate support and can serve as a pivotal point for reversion. If this area continues, Bulls can try another operation at the level of 109 thousand dollars. However, a breakdown below this SMAS opens the door to move to the demand area of $ 103,600, as Bitcoin found a strong purchase benefit earlier this month.
Its size increases slightly while recovering, indicating that traders are cautious and protect the gains after the gathering of last week. Until BTC is cleanly broken more than $ 109,300 with size, the market is likely to remain in the standardization mode. All eyes are now on whether BTC can defend this support set or risks on the deepest negative side in the short term.
Distinctive image from Dall-E, the tradingView graph
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