Bitcoin price is approaching 106,000 dollars as “recovery” continues – but be careful with this level
Bitcoin continued to influence this weekend, as it recovers strongly from the Blues at the end of the week in which he witnessed, about 101,000 dollars. From a broader perspective, BTC will target a mark of $ 110,000 and looks forward to restoring its high price at all. With the already closed the first cryptocurrency at the level of $ 106,000, the question is – where is the next obstacle on this recovery trip?
The BTC price faces a large resistance above 106 thousand dollars
In a new post on the social media platform X, the BURAK Kesmeci series open Two main levels can be the computer for the middle to mid -term for bitcoin price. This analysis depends on the price achieved for a specific group of investors known as short -term holders (STH).
Bitcoin holders are known in the short term by their interactive and speculative nature, as they are often operated with sudden price movements. Thus, these investors tend to open and close their sites in a short period.
In his position on X, Kesmeci has unveiled three important levels based on the prices achieved for investors in a specific scope of the UTXO. Specifically, the highly prominent analyst in the series is the cost rules for investors within one week-4 weeks (106200 dollars), 1 month -3 months (87300 dollars), and 3 months -6 months (97,500 dollars).
Source: @burak_kesmeci on X
According to Kesmeci, the Bitcoin price is likely to face a large resistance at approximately 106200 dollars, where investors have for a week to 4 weeks their cost rules. The logical basis behind this is that the STH in the loss may close their positions when they return to the basis of the cost, which leads to the declining pressure and the formation of the resistance level.
On the other hand, Kesmeci also highlighted the realized price (97,500 dollars) for the short -term investors during the age range for 3 months and 6 months as another critical level for bitcoin price. Analysts stated that investors in this category may consider moving towards this achieved price as an opportunity to defend their positions, which leads to the formation of the support pillow.
In essence, this data from the data indicates that the price of bitcoin may approach a large resistance level of more than $ 106,000. If this level is successfully violated, investors may see that the first cryptocurrency currency reconsidates its highest level of $ 111,871.
Bitcoin price at a glance
As of the writing of these lines, the BTC price is about 105,700 dollars, which reflects an increase of 1.3 % over the past 24 hours. According to data from Coingecko, the market leader has increased by more than 1 % in the past seven days.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Distinctive image from Istock, tradingvief chart
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