The price of Bitcoin is currently under high pressure after its drop in its level from almost $ 115,000 to around $ 109,300, which causes fears of the possibility that the Bulls will lose their control over the situation. Here, analysts warn that the price can be considerably decreasing if the main levels of support are broken, with the emergence of the level of $ 60,000 as a long -term separation line.
Levels monitored by traders
The first significant level of support is located nearly $ 111,400, which is the level that recently motivated the entry of many buyers on the market. The stability of the price higher than this level will maintain the profitability of their centers and will improve their confidence, while the decrease continues without this level will cause renewed pressures.
Given the graphic, we note that the presence of a larger demand zone between $ 104,000 and $ 108,000, and large amounts of bitcoin in this region were broadcast, which was launched by “Make Or Brek” analysts. On the other hand, we can see the price resumption if it maintains this range, while its decline will cause more decline, with $ 102,800, $ 10,200,200 and $ 107,300 as short -term support levels before the $ 60,000 level for the attention circle.
- Senior short -term support level: $ 10,300
- The critical area: $ 104,000 and $ 108,000
- Long -term Bottom: $ 60,000
Multiple economies and institutions
The market feelings were also affected by important economic signals. Powell’s comments have led to the drop in investors’ appetite for the risk, which in turn led to the low cost of Bitcoin at the bottom of $ 110,000.
At the same time, BlackRock has provided positive news, purchasing more than 700 Bitcoin currencies – a value of around $ 77 million – via the Coinbase Plage platform. This comes from the preparation of traders for fluctuations resulting from the expiration of Bitcoin options, worth $ 17 billion, and this stage highlighted institutional conviction despite the frequency of young investors.
In addition, Black Rock offers new products. In addition to the IBIT Fund, which costs $ 87 billion, the company has submitted a request to launch a distinctive income box in Bitcoin Trading on the Stock Exchange (BTC Premium Fencing ETF) is designed to generate yields thanks to the contract strategies of the options covered, and analysts believe that this step aims to attract investors in search of means of reaching income and Long -term bitcoin.
Bitcoin: The currency is always under the control of low -cost speculators
We note on the graphic level that the price of the currency has always been trapped under the downward trend line from the middle of September, and supports simple means of measurement in a range of 50 and 100 hours around $ 113,000 and $ 113,500 resistance level, highlighting an intersection zone.
Regarding the latest candle movement, it reflects a state of frequency, because a group of candles with small bodies shows failed recovery attempts, while last week, the sequence of red candles is similar to the “the three black crows”, a sign of continuous landing.
Despite the weakness of the momentum, it has not yet been exhausted, and the relative power index (RSI) can be read at 33, that is to say a little above the sale area, and shows no sign of ascending spacing. For merchants, the current technical structure is preferred to reduce the price as long as the price of Bitcoin currency remains lower than $ 113,000.
- The entrance area for speculation is a drop in price: $ 110,000 and $ 110,400
- Loss stop: $ 112,500
- Objectives: $ 107,300 and $ 10,200
Regarding new traders, it is preferable to examine bitcoin as if its price drops on a drawer, because each stranded rebound leads to an increase in the low price chances, and sellers will continue to be dominant unless the price is decisively $ 113,000.
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Bitcoin-BTC Bitcoin-BTC price forecasts: here are the main levels of support that are worthy of the Bulls (high price speculators) to prevent a price drop of around $ 60,000.
