The biggest crypto currency Bitcoin (BTC) $102,915.01even though the third for the third time in the silence of the weekend was not successful, and the heated order books were shaken by liquidation exceeding $ 600 million and the price pulled the price to 103 thousand dollars in minutes. While the macro appearance stretched with inflation concerns continued, volatility decreased at the beginning of the week, but the appetite in the market remained high. Analyst Mags underlined that 106 thousand dollars have become a psychological and technical castle, and that it is not surprising that it cannot be passed in the first attempt. According to him, the appearance is still positive and price graphics offers two rise scenarios.
What does the strong resistance in 106 thousand dollars tell?
The market’s “fine liquidity + algorithmic purchase” combination made a short -term rocket effect on the market night price graph. The gap in the order books gave the opportunity to liquidity hunters and chained liquidations were triggered. Even if the price is withdrawn, in futures transactions open interest rate And the open position size is high. This table indicates that the sellers have a justified self -confidence in $ 106 thousand, and that the buyers do not give up.
Mags reminded that the review movement, which titled “Re -winning of the range, is the pioneer of a historically strong upper move. Emphasizing that similar jams in Bitcoin’s previous bull cycles resulted in breakage, Analyst added that even a few days of stuck in the price before breaking the resistance could capture large funds unprepared. In short, the resistance is hard, but the bull scenario is still valid.
2 possible road maps in Bitcoin according to analyst
Mags’s first road map Bitcoin pricearound 105 thousand horizontal watching and suddenly jump up. Although this model is rare, it has a “crippled” quality because while most traders expect a clear signal, the acceleration following the short -term consolidation can lead to a steep and hard rise in the graph. If a broken breaks up the liquidity is supported by the volume explosion, it can produce a corridor up to $ 110 thousand.
The second road map revealed by the analyst is to retreat to $ 99 thousand 400 and even test the lower area of the range with a short -term wick. Mags said that this scenario is more common, but it offers a “cleaner break” instead of creating panic sales. Analyst expects voluminous purchases to come into play after the support confirmation of support. Thus, a layer of layer will be opened and a healthier rise will be opened.
Although both roadmaps of MAGS show that the general trend is upward, it is necessary to underline that timing and risk management is critical.
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.
