Key Takeaways:
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Bitcoin price coils at $ 107,000 while liquidity forms around all times high.
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A support/resistance resistance to $ 109,000 is a requirement for bulls because new record highs are inevitable, “the analyst said.
Bitcoin saw moderately acquired on the weekend, climbing nearly 3% to $ 108,000 on June 29, reflecting similar movements throughout the broader crypto market.
After taking some liquidity around $ 108,000, entrepreneurs said that a rally in fresh all-time highs was “inevitable” to ask bids that make up above $ 109,000.
Bitcoin primed for new all-time highs: analyst
The price of Bitcoin is below $ 108,000 from the slide below it on June 11. This price level remains critical for entrepreneurs.
Related: Bitcoin price will make history with $ 109k weekly, monthly close
My capital founder Michael van de poppe Batang -Batat Bitcoin hovers for $ 107,450, saying that after taking some liquidity around $ 108,000, BTC can see a slight pull before it breaks at all times.
An accompanying chart shows $ 109,000 as the main level to watch in the four -hour BTC hours. “This is the place we need to break to have upward momentum,” Van de Poppe said, and added:
“The inevitable breakout in an ATH in Bitcoin can happen even in the coming week.”
PSEUDONYMOUS ANALYST MAGS shared A chart that shows bitcoin price action that forms an inverted head-and-shoulders pattern in higher timeframes.
The target of this classic pattern is new record highs, once the price is broken above Pattern neckline at $ 112,000.
Analyst said:
“The bitcoin breakout is coming in.”
Similar The sentiments were shared by popular analyst Jelle, who said Bitcoin’s breakout from a Bull flag It can trigger a massive upward move on price detection.
Number reported By Cointelegraph, the $ 108- $ 110K level is an important psychological boundary with implications for emotion if it should break.
BTC Liquidity makes up $ 109,000
Many entrepreneurs are looking at a potential Grab of liquidity above with thickening bid orders under the price of the area, and others have clustered above $ 109,000.
“Bitcoin is pushing for $ 109,000 liquidity this morning as mentioned last night. The question is, is it enough to push and handle?” Crypto analyst alphabtc Says In a post on June 30 in X.
The latest data from the resource tracking Coinglass Demonstrated food prices far from bids around $ 108,000 in the past 24 hours, with a large part of interest that clustered between $ 109,200 and $ 111,000.
More than $ 47.6 million worth of liquidity is sitting at $ 109,500.
The $ 107,000- $ 107,400 cluster is the main area of liquidity in the downside.
If liquidity is between $ 110,000 and $ 112,300 is taken, the resulting short squeeze can push the BTC back to the price discovery.
As cointelegraph reportedThe more liquidity concentrated around $ 112,000 all-time highs, the greater the potential upward move that can be expected.
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.
