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The Bitcoin price had a tough start to the weekend, from the $ 106,000 high to just above $ 103,000 on Friday 20 June. The flagship cryptocurrency became somewhat stable above this price zone, around $ 104,000 for most of the last day.
However, the Bitcoin price was in the late hours of Saturday 21 June for a new Golf of Beerarish, as a result dropped to around $ 101,500. Below is an analysis of the BTC price and what awaits us for the world’s largest cryptocurrency through market capitalization.
Next BTC support level is $ 100,000: Analyst
Popular Crypto analyst in the pseudonym Titan van Crypto put forward An interesting analysis for the Bitcoin price while the market leader is struggling to build any momentum. According to the online expert, the price of BTC can be on its way to re -test a crucial support area if it continues to lose its bullish impulse.
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With the help of the Bitcoin price chart on the weekly period frame, the following considerable level of support is around $ 99,000 – $ 100,000. The confluence of the real value gap (FVG) and the rising Tenkan-sen (red line) around this price region makes the zone a considerable area to view if the sales pressure continues.
The Tenkan-sen, an important part of the Ichimoku Cloud -indicatoris often considered an important line when analyzing trends in the short term. The Tenkan-Sen line is often seen as an important support and resistance level, as well as a signal line for potential trend covers.
The real value gap is a liquidity emptiness that is often created by a competitive price movement, which indicates a lack of trading activity within a certain price range. FVGs are usually considered to be potential interest areas for future price corrections, because investors often try to fill the liquidity invalid.
With the FVG and the Tenkan-Sen in the same region, Titan van Crypto noted that the Bitcoin price can find a support cushion around $ 100,000. This level seems to be extremely crucial for the flagship cryptocurrency in the short term, especially if the bullish momentum decreases.
In the meantime, holding this $ 100,000 support can be crucial for the long -term Bitcoin. It is worth noting that the price of BTC has not traded more than $ 100,000 since 8 May, so that the $ 110,000 is reached twice within that period.
Bitcoin -price at a glance
After falling in the late hours from Saturday to around $ 101,400, the Bitcoin price has now returned around $ 103,000. At the moment the price of BTC is around $ 102,845, which reflects a decrease of 0.4% in the last 24 hours.
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Featured image of Istock, graph of TradingView