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After a powerful meeting earlier this month, Bitcoin’s price promotion has stalled just above $ 103,000 And was imprisoned in a tight consolidation range last week. The daily graph shows a consistent resistance just above $ 107,000, with the latest candles that form in a compressed horizontal band, indicating that indecision and a low momentum.
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This price behavior can be seen as a break for the next leg higher. However, it can also be a fall that can cause a reversal to $ 98,000.
Daily close to $ 107KA Clear Breakout -Signal
The current consolidation of Bitcoin around the price level of $ 103,000 has already emerged for more than a week and there may be a possible outbreak in any direction. In a recent message on social media platform X, crypto analyst Ali Martinez noticed the importance of A daily close to $ 107,000 For a bullish bitcoin.
His graph illustrates that the price has approached this threshold several times since December 2024 but failed to keep it in the daily period. This in turn led to the formation of a horizontal barrier just below $ 108,000. It is striking that even Bitcoin’s of all time from $ 108,786 on January 20 could not be closed above the price level of $ 107,000 on that day.
According to Martinez, A confirmed close to this level Could open the door for further upward movement to new heights of all time. However, until this threshold has been erased decisively, Martinez warns that traders must be careful and avoid avoiding positions.
Image From X: @ali_charts
Potential Bitcoin staircase setup and liquidity waving up to $ 98k
A separate technical breakdown by Crypto analyst Tehthomas, published on TradingView, presents one Much more cautious prospects for Bitcoin. Similarly, the analyst noted that Bitcoin spent more than eight days in a narrow range between around $ 100,000 and $ 105,800.
According to his liquidity-based framework, this range is probably used as a fall to invite both long and short traders to premature breakout transactions. His 4-hour candlestick frame graph shows a clear consolidation block, whereby the price cannot escape both ends and liquidity pooling above $ 105,800 and less than $ 100,000.
Tehthomas believes that the equal highlights near $ 105,800 act as a bait for breakout longs. He expects Bitcoin to wipe these highlights briefly, only for a Down quickly and decisively In the lower demand zone between $ 98,000 and $ 97,500.
This zone, marked as a large unmistakable real value gap and gold pocket level at his graph is where he expects the price to respond as soon as the liquidity has been taken on both sides.
Image Van TradingView: Tehthomas
This short setup to $ 98,000 would, however, be invalid if the Bitcoin price succeeds in keeping more than $ 105,800 and shows a constantly strong volume and follows.
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At the time of writing, Bitcoin traded at $ 103,914, with 0.06% in the last 24 hours.
Featured image of Unsplash, graph of TradingView