Bitcoin aims to its highest new levels even with the defense of sellers 110 thousand dollars

Main point:

• The height of the BTC above $ 109,000 nullified a decreased pattern, causing the bulls to drag at the highest new level ever.

Bitcoin (BTCHe gathered sharply on Wednesday and tries to continue the upper trend on Thursday, indicating the continuous demand of bulls. 10x Research Head Research Markus Thielen I tell Cointelegraph that Bitcoin can rise to $ 116,000With the support of strong flows in the funds circulating in the immediate Bitcoin exchange, the uncertainty in the American Federal Reserve and the sharp decrease in bitcoin supplies to the exchange of encryption.

Can Bitcoin rise and maintain the highest level ever, or is the price lower, besieging aggressive bulls? Let’s analyze the plans to find out.

Bitcoin prediction

Bitcoin wore the support of $ 105,000 and closed over the landline line on Wednesday. This void the declining tanning style, which is a positive sign.

Each of the moving averages, and the RSI is in the positive area, indicates an advantage for buyers. The BTC/USDT pair can reach the neckline for the head and the reverse shoulder, where the bears are expected to enter. If the bulls do not give up much of the neckline, it increases the possibility of a break over it. The husband may gather towards a $ 150,000 style.

Sellers will have to withdraw the price at a speed of less than the moving averages to prevent the upward trend. The husband may then descend to 105,000 dollars and then to 100,000 dollars.

Related to: Bitcoin price has increased 80 % the last time

The price erupted over the landline line and successfully extracted it to the level of penetration, indicating that the bulls are trying to turn the level to support. Insulated moving averages and RSI indicate the positive area that the bulls have the edge.

However, the bears are unlikely to surrender easily. They will try to defend the area severely between 110,500 dollars and 111,980 dollars. If the price decreases from the upper area but finds support on moving averages, it indicates a positive feeling. This increases the possibility of a break above 111,980 dollars.

The sellers will return to the driver’s seat if the price rejects and decreases without the moving averages.

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.