The main data signals confidence in Bitcoin-the commercial deal between the United States is combined
Bitcoin is trading over the level of 104,000 dollars after publishing the second highest week in history, which enhances the power of the current upward trend. The bullish momentum has been constructed steadily over the past few weeks, as the price has risen strongly after recovering each of the psychological levels of 90 thousand dollars and 100 thousand dollars. This represents a major shift in feelings after months of monotheism and hesitation in the market.
According to Cryptoquant data, the fear and greed index began to rise significantly, reflecting the increasing optimism between bitcoin investors. Although the feelings are clearly tending to climb, the index is still much lower than the exhausted “excess pregnancy” area, indicating that there is more space to rise before reaching the feverish conditions.
This combination of strong measures and controlled feeling can indicate a sustainable crowd instead of the speculative explosion. Since Bitcoin bears higher than the main resistance areas, analysts and investors have begun to focus at the highest level near 109 thousand dollars as the next main goal. This last step also activated the broader encryption market, as Altcoins gained power alongside Bitcoin. With the construction of the momentum, the market appears to be ready to enter a new stage of expansion, and it is nourished by renewable confidence and capital flows.
The momentum builds as bitcoin eyes 109 thousand dollars at all
Bitcoin enters an important week as Bulls set their attention at the highest level of $ 109,000 ever. After months of heavy sales pressure and market doubt on a large scale, the leading cryptocurrency increased to the spotlight, slightly less than $ 105,000. This level now works as an immediate resistance and can become a large axis in the upcoming sessions. If the bulls can pay this barrier, the collapse in an unknown area will be imminent. However, if the pressure pressure is condensed around this area, Bitcoin may face a period of unification or retreat before making another attempt.
Market morale has improved significantly, the most prominent of which is the biggest analyst Axel Adler. According to Adler’s visionsThe average current values of the index of fear and greed climbing steadily, indicating high investor confidence. More importantly, the index is still far from the territory of extreme greed, indicating that optimism is built, but its temperature has not yet increased – a constructive sign of a sustainable rally.
Further positive expectations are total developments. Sunday negotiations between Washington and Beijing brought a feeling of comfort to global markets, which contributed to the broader rise. While reducing geopolitical tensions and bitcoin nodes at home near multiple levels, the preparation for the highest leg is formed.
BTC faces an important test near its highest level ever
Bitcoin is trading over $ 104,000, following the second highest weekly week in its history. After recovering the level of $ 90,000 in late April, the price rose strongly, and it is now hovering slightly less than the high area (ATH). This weekly scheme shows a clear momentum, pushing BTC through the main resistance areas with large size and condemnation. However, the price is now directly testing the same range that represents the summit earlier this year – between 104 thousand dollars and 105.7 thousand dollars.
This region is crucial. If the bulls can pressure this level and close the weekly candle near or higher than the highest level at all time, it is possible that the bullish trend in the long term. Such penetration would put BTC in the discovery of prices, which may lead to purchases and institutional flows driven by momentum. On the other hand, if Bitcoin is walking or recovering from here, it may indicate a short -term exhaustion and possibly correction towards the support area from 100 thousand dollars to 103 thousand dollars.
The directions of size and morale in the market remain favorable, especially with the low exchange balances and the increasing optimism of the investor. However, the weekly weekly penetration over the ATH is still the final confirmation of the next macro leg. All eyes are now on whether BTC can make history with the highest new level ever this week.
Distinctive image from Dall-E, the tradingView graph
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