“The most reliable reflection patterns” in Bitcoin in BTC Rallly about 160 thousand dollars

Main meals:

• Bitcoin confirmed the outbreak of the head and shoulder inverted.

• The short -term decline may lead about 114 thousand dollars to 115 thousand dollars to the previous resistance as support.

• The MVRV Z degree remains much lower than historical peak levels, indicating that the BTC gathering still has an operating room.

Bitcoin (BTCThe penetration phase of what the planners call one of the “most reliable reflection patterns”, indicating a move in the ups of about $ 160,000.

Bitcoin may decrease about $ 114,000 first

IH & S head style appeared on BTC/USD charts for 3 days and weekly.

The resistance of the modern neckline, which is approaching $ 113,000, confirms the structure and opens the door to take a measurable step About $ 140,000 at leastAccording to the traded Merlijn scheme.

Meanwhile, the famous analyst merchant Tardigrade Sees Even even more bullish while introducing a similar IH & S style but it slightly climbs on a weekly scheme.

It is expected that the BTC price will reach the scaling goal by preparing the reflection of about $ 160,000.

Bitcoin is cooled after setting a record near $ 123,250 on Monday, as about 5.65 % slipped in a correction that is likely to be at the height of the peak.

The withdrawal follows the days of strong gains, with daily BTC Relative power index (RSI) 70 recently crossed, indicating the short -term bullish trend between merchants.

The data on the series also indicates that achieving profits played a role. Senior holders, including long -term investors and short -term speculators, have been, ClosureIn addition to pressure the negative side.

Related to: Satoshi era whale moves $ 4.6 billion in Bitcoin after 14 years of Hodl

Analyst Hardy He says Bitcoin may return the CME gap between $ 114,300 and $ 115,600 to confirm it as new support before clicking on top.

This area is almost in line with the neckline for the IH & S style.

It is relatively common for the price to return to the penetration area – where the supporting resistance turned – before resuming its direction. This behavior often helps get rid of weak hands and build a stronger basis to continue.

The successful bounce of the neck area is likely to boost the Bitcoin gathering issue towards the target between 140,000 and 160,000 dollars by August or September.

Bitcoin universal gathering, MVRV Z-SCORE offers

Bitcoin is trading near its highest levels ever MVRV Z-SCORE It is still much lower than the historically associated levels with market peaks. This difference indicates that the current assembly may still have room for running.

MVRV Z-SCORE measures the extent to which Bitcoin’s market value is deviated from its achieved value, an agent of the capital already invested in the network.

Historically, when the market value exceeds the achieved value to a large extent, the result is the red region, which indicates an exaggerated estimate and often precede major peaks.

This indicates that from the Onchain point of view, the Bitcoin temperature has not continued to climb before entering a classic higher formation, which may reach the goal of the IH & S price of $ 160,000 by August or September.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.