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Bitcoin is struggling with more intensive volatility after a sharp sale caused by the abrupt announcement of US President Donald Trump of a radical 50% rate With all EU imports from 1 June. The unexpected macro -economic move sent shock waves through assets, and Bitcoin was no exception, aggressive lose weight Highs of all time near $ 111,800 To be too low within a few hours around $ 107,500.
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Although there was a brief recovery to $ 109,000, the subsequent price action now shows an intense battle between the Bulls and Bears, with technical analysis on the 1-hour candlestone season with the two ways in which Bitcoin can play this week.
Bitcoin compression structure between gaps in the real value
According to Crypto analyst Tehthomas, the current price structure of Bitcoin is defined by two Opposite 1 hour of real value (FVGs). The lower FVG zone identified by the analyst is around $ 107,500, which appeared during the rally to $ 111,814 ATH and now acts as the first significant Reaction point after the rally.
The upper FVG range is between $ 109,800 and $ 110,700. This level, formerly the basis of a breakdown candle, put in strong resistance on Friday. Interestingly, a rejection was confirmed in this upper FVG, which showed that there were many sellers present in that zone.
It is remarkable that the 1-hour graph shared by the analyst points to a Deadlock scenario for the Bitcoin prize. An outbreak above or below the identified real value hiates will probably define the directional bias for the next large Bitcoin leg.
The following impulsive movement of Bitcoin is likely to come up with volume confirmation, either with a bullish displacement above resistance or a bearish rejection that pushes the Bitcoin price to a lower demand goal.
Bullish and Bearish Scenarios for Bitcoin
Interesting that since the analysis, The subsequent price promotion is marked by the failure of Bitcoin to reclaim the upper FVG and more a consolidation around the lower FVG at $ 107,500. This lays the most meaning around this level, because the reaction of Bitcoin can cause a rebound here or a significant price racement.
For the bullish scenario, A bouncement at the lower FVG sends the Bitcoin price to the upper FVG. A persistent movement above the upper FVG for $ 110,700 would indicate a bullish recovery and could bring a new all time About $ 113,000 back in Focus.
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For the Bearish scenario, especially with a clean loss of the level of $ 107,500, the path opens for a movement to $ 106,000. This level was aligned with a liquidity pool left behind consolidation at the start of last week. If the structure breaks down below $ 106,000, sellers can take over control in the short term.
At the time of writing, Bitcoin acted at $ 107,017.
Featured image of Unsplash, graph of TradingView