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The encryption market suffers from significant fluctuations, while driving bitcoin price. During the past month, BTC was traded sideRegister the decreases that paid for less than $ 100,000. While analysts speculate about the main step next to the cryptocurrency, modern data indicates that the classic science column style is starting to appear on the bitcoin price scheme. The encryption analyst that identified this pattern has shared Predicting the Al -Road Road message For Bitcoin, it is expected that it will rise to the highest new level ever exceeding $ 120,000.
In TradingView analysis, Crypto Weslad expert expressed optimism about the future Bitcoin path, dropping It can rise up to $ 120,843 in this bull cycle. The most prominent current composition analyst is a classic Flag Pillar style On the BTC price scheme. The appearance of this distinguished artistic style in the structure of Bitcoin has sparked an enthusiastic response from analysts, because they expect a massive outbreak of the bullish aspects.
Road map to 120,000 dollars targeted bitcoin price
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This bull science style is usually known as a bullish continuity signal during the upward trend. It represents a stopping movement of the encrypted currency before resuming the direction. In the case of Bitcoin, Weslad suggests that his recent rejection is not seen as a decline but as a region that accumulates smart money designed Weak hands shake Which panic during the market decrease.
Despite the decline, The last basic procedure for Bitcoin Strong flexibility in the immediate demand area showed between $ 91,000 and $ 95,000. The analyst also describes this correction as “fake down”, noting that it was due to liquidity engineering. This seizure allows strategic liquidity Senior players to assemble BTC At favorable prices before the next important move.
Noting the formation of the flag column, Weslad also sheds light on the outbreak of a modern Comic Bitcoin price movements have already been restricted. This channel indicates a possible recovery in favor of Bitcoin, as the analyst expected an initial increase to 108,089 dollars.
If bitcoin can Keep a positive momentumThe path to the end of the final flag is a reasonable $ 120,843.
Monitor the penetration signals
While Weslad Project is the highest new level of Bitcoin at $ 120,843, the analyst also emphasizes important signals that can indicate the existence Imminent. He revealed that if Bitcoin can successfully turn the above -mentioned external supply zone between 108,000 dollars and 109,000 dollars, the cryptocurrency may witness an increase in its prices to new levels.
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At the time of writing this report, the price of Bitcoin was 96,142 dollars, which represented a 2.25 % decrease over the past week.
Distinctive image from Unsplash, Chart from TradingView.com
