Bitcoin-Btc Price Aspects: The level of support shows signs of weakness. Does the market are preparing for a rapid drop of about $ 100,000?

Bitcoin amounts to $ 110,360, withdrawing more than 1.15% in the last 24 hours, while traders are waiting for the support area for $ 112,000. A direct market value of 2.19 billions of dollars, and with the circulation of approximately 19.9 million currencies in BTC, the currency always softens the throne of the Crapto sector, but the scene of short -term expectations seems dark.

Analysts believe that the price of bitcoin is “attached to a thin thread” after touching the minimum support channel; A fracture of $ 112,000 could open the door to larger drops, with $ 10,695 at $ 110,000 by considering the final defense before sliding at deeper levels. As for the most complete image, this shows that institutional demand is always strong, but short -term traders wonder if the emerging wave of this summer has reached its end.

The technical expectations of the price of Bitcoin currency: is there a drop in lightning on the horizon?

At the technical level, the price of Bitcoin is still trapped inside a channel descending after its failure at the beginning of the month from the cohesion above $ 124,450, and the decline has resulted in a series of low peaks, while the price is currently stabilizing nearly $ 110,100.

Axial technical levels:

• The simple average size is 50 days ($ 116,553): It now represents higher resistance.
• Axial point at $ 112,000: The meeting point of a previous trend is represented with a level of support.
• Support range 10,695 to $ 110,000: The floor criticized before the additional decline.
• Risk risks: $ 105,150 and $ 101,550 if the current support fails.

The momentum indicators suggest prudence; The RSI indicator (RSI) amounts to 38, which means that the currency is in an overload area without any positive deviation, and the MacD index is negative and reflects the downward pressure. The last candles show a frequency of long inclinations of the lower and long sowing from the top, which reflects a fight between buyers and sellers.

In the event that the level of support is located, the Bitcoin currency (Bitcoin) can bounce approximately $ 116,850, because the resistance of the canal responds to the simple means of 50 days. As for this level, this level will be exceeded, the road will bring about $ 120,900, then until later August to $ 124,450.

On the contrary, a decisive decrease of less than $ 108,695 will improve fears of decline, and the slope could accelerate about $ 100,000, a level which could increase a wave of product sales, but it can also attract a wave of institutional assembly.

Bitcoin: $ 130,000 or $ 100,000?

The equation: either the price maintains its support and constitutes a solid base, or a kidnapped decrease pushes it at the level of $ 100,000; If the purchase forces can return the price of more than $ 116,850, the price structure should exceed $ 124,000 to $ 130,000 with the restoration of the momentum.

However, the constant breakdown of support for less than $ 108,500 will put $ 105,000 and $ 101,000 in the targeting circle, and the door of psychological barrier tests at $ 100,000.

As long as institutional demand exists as support, it may be any decline in passing and temporary, but if the level of support continues to crack, the market can attend the most fierce correction from the emerging wave in June.

For our part, we see that the stage of current cohesion of the price of Bitcoin currency does not express a descending trend because it opens the way to the next emerging wave. Whether the overthrow begins from $ 110,000 or after about $ 100,000 in slipping, the long -term path to new peaks is still regularly.

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Bitcoin-BTCOIN-BTC Bitcoin-BTC prices: the level of support shows signs of weakness. Does the market are preparing for a rapid drop of about $ 100,000? APPLERDIRST on Arab Cryptonews.