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Bitcoin (BTC) tries to reclaim a crucial area in the midst of the recent price repair, which could propel the flagship crypto to new highlights. Some analysts suggested that BTC is preparing for the ‘final resistance’, while others warned that it still risks a potential withdrawal to lower levels.
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Bitcoin rally eyes Next resistance
Bitcoin has finally regained a considerable bullish momentum after printing a huge daily candle on Monday. The Crypto flagship recently lost its post-all-time high (ATH) reach of $ 106,800- $ 109,700, which caused some investors.
In the midst of the recent Market-back-back, which started at the end of May, the flagship Crypto also registered some volatility, lost important levels as support and reached a low point of one month near the $ 100,000 level last week.
BTC, however, recovered the $ 105,000 in the weekend before he sustained $ 106,800 on Monday above the crucial resistance of $ 106,800. After this achievements, Analyst stated Capital that Bitcoin successfully tested the $ 104,400 Racing High Resistance as new support for four weeks.
He marked That BTC “returned from this new support basis in an attempt to go again to price discovery.” In addition, Bitcoin finished his two -week downward trend and he registered a daily closure around the $ 110,500 area.
According to the analyst, BTC has “fully discussed the $ 106,600- $ 109,443 daily reach” and is “again in the context of a retest for a retest” of the range of the range, which the prize propelled to his ATH last month.
A daily close to the level of $ 109,443 would set up BTC for a repeat of the “last daily resistance” around $ 111,723, before a new ATH. The analyst also confirmed that recovering the “last weekly resistance” of $ 108,900, because support would also contribute to the momentum of BTC.
BTC in a ‘dangerous area’?
Analyst Crypto Jelle suggested That converting the price area of $ 108,000 could send in support to the price discovering phase, which may aim the $ 120,000. He noted that earlier failed attempts did not reclaim this level, but that the cryptocurrency is currently retaining this area.
Based on a pattern with several months, Jelle also confirmed his goal of $ 140,000-$ 150,000 for the BTC Cyclustop. The analyst marked Since the end of 2024 a large inverted head and shoulder pattern formation.
According to the post, the pattern is “approaching completion” after the recent price drop was the right shoulder, while the neckline is around $ 111,000. Bitcoin can send an outbreak above this level to Jelle’s cycle top goal.
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Altcoin Sherpa considers That BTC’s graph “looks pretty good” in the highest timetables, which suggests that he will “be bullish until he is shown differently”. However, he warned that Bitcoin is “still in a dangerous area” because it could fall to lower levels if it does not reclaim the level of $ 110,000.
For Serpa: “It is logical to assume that a kind of pullback enters the red food zone”, which is between the most important resistance line and the ATH level. Meanwhile, Ali Martinez marked On X is the most important support area of BTC between the levels of $ 102,770 and $ 106,090, where 2.21 million addresses bought 1.39 million BTC.
Bitcoin is currently acting at $ 109,995, an increase of 3.6% in the weekly period.
Featured image of unsplash.com, graph of TradingView.com