Basic Points:
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The BTC price action results in $ 105,000 after Wall Street is open, rising 2.5% from the lows of the day.
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Continued volatility, leading market participants in various conclusions on what will happen to the next BTC/USD.
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Views include the Bitcoin Bull market in its later stages.
Bitcoin (Btc) seek a rebound from a 4% dive on the May 19 Wall Street Open as entrepreneurs deviate from the bull’s power.
$ 106,000 becomes BTC price zone to watch
Data from Cointelegraph Markets Pro and Tradingview BTC/USD showed $ 104,500, up to 2.5% from low day.
The pair saw volatility of flash around the weekly close, which although the highest recorded The bulls quickly found out of control.
Now, opinions are different about when, or if, new hours high will come.
“This is exactly what Bitcoin has to do,” an optimistic capital write In part of his latest review of X.
“Must hold ~ $ 104400 as support to position yourself for a successful post-breakout retest.”
Famous entrepreneurs Daan Crypto filed $ 102,000 and $ 106,000 as levels to watch above and below the price of the area.
“They have marked the local range low and high and the price traded within them for most of the last 1-2 weeks,” he Explained to the part of his own x post.
“Consider a clean rest below any of these. So far, the price has not been maintained above or below for more than one day.”
The area around $ 106,000 is also on the radar for the Onchain Analytics Firm Glassnode.
“The BTC price price stuck below $ 106.6k – a level with 31k $ BTC held on the basis of cost,” this noticed During the day.
“This cluster of supply came from December 16 and remains unstable. Holders are not re -distributed, nor do you have to average – make $ 106.6K an important level to watch in a short time.”
Trader: “Too many bearish signs to ignore” in Bitcoin
Meanwhile, a revised warning came from fellow businessman Roman, who was considered a weekly time no longer in favor of the Bulls.
Related: $ 107K fake or new all-time highs? 5 things to know in bitcoin this week
“Not a good close as we refused the resistance. Create more differences -It, and that -Pumped with a low volume. Stoch RSI is leading, too,” Summary.
“Too many bearish signs to ignore, and this is why I keep saying that the Bull Run is probably almost done.”
Roman defined the indicator of stochastic relative index (RSI), a trend tool Now stable in “overbought” territory.
As Cointelegraph reported, various short -term BTC price predictions appeared in recent days, including an “early week” Target of $ 116,000 includes a potential retra towards $ 90,000.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
