Key point:
Bitcoin (BTC) withdrew after reaching a new summit of $ 123,218 on Monday, indicating profits at higher levels. The correction seems to be technical in nature, because the underlying demand remains strong. Bitcoin treasure companies bought 159,107 BTC in the second quarter, according to BitcoinTareries.net.
Retail investors should not be left behind. Bitfinex analysts said in a market report on Monday that the request for shrimp (<1 BTC), crab (1–10 BTC) and fish holder groups (10–100 BTC) is at 19 300 BTC per month, which is more than the new monthly offer of around 13,400 BTC since April 20.
Will the high demand from institutional investors and retail merchants propel the BTC to $ 150,000? Let’s analyze the graphics to discover it.
Price prediction BTC
BTC witnesses a correction that could draw the price of the reverse model of the head and shoulders nearly $ 113,000.
The exponential average of 20 days (EMA) ($ 112,390) and the relative force index (RSI) near the excessive area indicate an advantage for buyers. If the price bounces from the 20-day EMA, the Bulls will try to push the BTC / USDT pair above $ 123,218. If they manage to do so, the pair could come together towards the model of $ 150,000.
Unlike a break and a closure below the 20 -day EMA suggests a weakening of the momentum. This can delay the start of the next step in the UP movement. The pair can then slide towards the 50 -day simple mobile average (SMA) ($ 107,794).
In relation: Bitcoin’s “most reliable inversion” alludes to BTC Price Rally around $ 160k
The pair broke below 20 EMA on the 4 -hour table, indicating short -term weakness. Buyers are trying to start a rescue rally, which can be faced with sale at 20 EMA. If the price decreases from the 20 EMA and decomposes below $ 115,000, the pair can fall from the neck.
Buyers should fiercely defend the area between the neckline and $ 110,530. If the price bounces from the support area and is exceeded above 20 EMA, this suggests that the Bulls are returning. The pair can then increase to $ 123,218.
This positive point of view will be invalidated in the short term if the price is broken down below $ 110,530. This can flow the pair at $ 108,000 and subsequently at $ 105,000. The greater the correction, the more it will probably take for the next step in the trend to increase.
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.
