The highest levels of Bitcoin-BTC can be $ 123,100 just a local summit, where the value of the NVT network indicates the higher danger beaches, while the triangular style tests a penetration of $ 125,000.
The highest levels of the last Bitcoin currency (Bitcoin) sent $ 123,100 of warnings from the possibility of a local summit, because the scales indicate the blockchain to a significant price of prices.
The price of digital currency quickly decreased by 6% to around 115,700 after reaching its highest levels of all time, jointly with the NVT index exceeding the historic red deviation beaches, which generally coincide with price courses.
The largest decrease in the current increase market is only 23.48%, which is a much lower level than the correction of previous courses, which varied between 30%and 80%, which indicates that the basic structure of management is still healthy despite the prices widening in the short term.
Technical analysis reveals that the price of a currency Bitcoin He is currently settling in a similar triangle style, where the level of support is between $ 116,000 and $ 117,000, while the resistance level is located at $ 120,000.
The assembly stage in the triangle style tests the penetration of $ 125,000
The price of the Bitcoin currency indicates within the framework of 4 hours to enter the collection phase (stability) in the similar triangle style, the triangle head approaching approximately $ 117,837.
This scheme puts pressure on the price of the currency between downward resistance and ascending support at levels ranging from $ 116,000 and $ 117,000, while preparing to move in a decisive direction at the end.
Usually this compression is a significant increase in price fluctuations.
It is expected that any growing penetration on the upper steering line (red) moves the price to the level of $ 125,000, which reflects a 6% increase in current levels. On the other hand, the decrease below the level of support (green) will result in a drop in price of around $ 111,000, which represents a decrease of 6%.
The nature of the style of similar triangle also indicates that bulls (speculators are at a high price) and that bears (low -cost speculators) have not yet been able to impose their control on the market. Multiple levels of support provide safety nets to reduce possible drops, knowing that institutional investment has been published at these levels through history.
However, we must highlight the importance of the final penetration management to determine the short -term momentum and confirm whether the price will increase or attend a correction process.
The start of the currency distribution stage on the market: global liquidity changes its management
According to the Merlijn The Trader, the Bitcoin Prize is associated with the global monetary show index (M2) that the digital currency has gone to the stage of the distribution of currency on the market (drainage) – The period during which senior investors start to sell their currencies – after having transmitted two phases in large quantities or in assembly and in manipulation.
This total analysis framework indicates that liquidity is developing in support of the high price of bitcoin, huge gains can become more conservative and volatile with the maturity of the current cycle. In addition, the complex fibonacci correction index expected the Bitcoin cycle (Bitcoin) will reach its peak in October, which means that the expected great height will be longer, which will not occur immediately and quickly as some await.
Although the resistance zone represents between $ 13,665 and $ 151,539 the final objectives, the path to it will include several assembly stages instead of the height directly.
The current levels correspond to $ 117,000 and $ 118,000 with large groups of negotiation sizes, areas that have attended an institutional collection and sale.
In the end, this overcrowding creates several layers of support and resistance which require patience to successfully overcome it during the drainage stage.
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Post Bitcoin-BTC Prix Hestaignos: $ 123,100 can represent a temporary summit with signals warning of a price correction first on Arab cryptonews.
