Bitcoin $103,805.78 The last five weeks climbed from $ 75,000 to $ 106,000 with a 38 percent premium, but intensive sales orders at $ 105,000 will determine the short -term direction. Analysts, the so-called “stepped rise” in the model of the price first reached the summit with the vertical move and then breathed horizontally, thus both new supports formed and the buyer-selling balance is maintained. When we look at the order books, sales pressure of $ 104,800 and 70 million dollars at $ 105,000 draws attention. As soon as the sales blocks melt, the view that up acceleration can accelerate gains weight.
Stepped rise model strengthens the market
The rise, which began at the bottom of $ 75,000 at the beginning of April, first watched horizontally on the $ 83,000-85,000 band. While market participants set their orders in this narrow range, the volume slowed down; New buyers also had the opportunity to collect power. The second climbing created a similar jam between the $ 92,000-96,000. Short breathing seen in each step both increased long -term support lines and offered the necessary liquidity for the realization of profit of the sellers.
As of May 10, the new balance point was between 101,000-105,000 dollars. Although the volume narrows from time to time, the liquidation positions keep the volatility alive. Market experts emphasizes that the price increases the volume again while the price is getting closer to the upper band and that large wallets are purchasing in decreases. This behavior points out that consolidation has a strong demand from the bottom. Technical indicators, especially the weekly RSI’ın still does not enter the extreme purchase zone, while the momentum is up to the highly prone pointed out.
Wall in 105 thousand dollars intensifies the sales pressure
Kyotaka.ai’s data scanning Binance, Coinbase, OKX and other large stock exchanges reveals a huge $ 120 million sales block stuck between $ 104,800-105,000. Most of the orders reflect the request of investors who have opened positions in previous steps. The sellers will slow down automatically when they reach automatic sale when they reach the minimum price they set, slowing down the price of the “wall” at the time of rise. The gradual decrease of this obstacle is seen as a key element to pave the way for the trend.
The expectation that the Federal Reserve will end the interest rate hike cycle on the macro front supports the global risk appetite. This optimism is also accompanied by corporate money flow entering Spot Bitcoin ETFs. The slope of the 100-day moving average on the technical indicators side is positive; OBV data shows that buyers are still dominant. Analysts say that with the digestion of recipients, more than 105,000 dollars of “empty spaces ve and the rally can be carried to fresh records. The sales wall is expected to be permanent; When the resistance is broken, the acceleration is possible to turn to 112,000 and then psychological 120,000 dollars.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
