Key points:
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BTC Action Price Retarget $ 105,000 after the opening of Wall Street, up 2.5% compared to the hollows of the day.
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Volatility continues, leading the market participants to variable conclusions on what will happen to BTC / USD afterwards.
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The prospects include the bitcoin bull market in its last stages.
Bitcoin (BTC) asked for a bounce from a 4% dive from the Wall Street Open on May 19, while merchants diverged on the Haussier market force.
$ 106,000 becomes the BTC price zone to monitor
Cointelegraph Markets Pro and TradingView data showed that BTC / USD passing $ 104,500, up 2.5% compared to the lowest of the day.
The pair had seen the volatility of the flash around the weekly fence, which, although the highest ever recorded, quickly saw the bulls lose control.
Now opinions were different at the time or if new heights of all time would come.
“This is exactly what Bitcoin needs to do,” wrote an optimistic Rekt capital in part of his latest analysis X.
“Must contain ~ $ 104,400 as a support to position yourself for a new post-elite retest.”
Popular merchant Daan Crypto Trades reported $ 102,000 and $ 106,000 as levels to watch over and below the cash price.
“These mark the low and high local range and the price is negotiated in the last 1 to 2 weeks,” he explained in part of his own post.
“Keep an eye on a clean break below these elements. So far, the price has not been kept above or below for more than a day.”
The area around $ 106,000 was also on the radar for the ONCHAIN GLASSNODE analysis company.
“BTC prices overvoltage has obtained a dead point just below $ 106.6,000-a level with $ 31K BTC held at this cost,” he observed the day.
“This tender cluster was born on December 16 and remains unshakable. The holders have not redistributed, or on average – making $ 106.6,000 a significant level to monitor in the short term.”
Trader: “Too many signs to ignore” on Bitcoin
A renewed warning has come from his Roman shopping colleague, who considered the weekly deadlines as no longer making the favor of the Bulls.
In relation: Fakeout of $ 107,000 or new heights of all time? 5 things to know in Bitcoin this week
“Not a good closure while we reject resistance, created more downward divergences and have pumped with a low volume. Stoch RSI has also exceeded,” he summed up.
“Too many lowering signs to ignore, and that is why I say continuously that the Bull Run is probably almost finished.”
Roman has referred to the indicator of the Stochastic Relative Resistance Index (RSI), a tool of resistance to the trend now firmly in the “Surbouillé” territory.
As Cointtelegraph reported, various short -term BTC price forecasts have surfaced in recent days, including a “start of week” goal of $ 116,000, as well as a potential retirement to $ 90,000.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
