Bitcoin $118,396.50While the price of $ 118,348 fluctuated, two different analysts brought up alternative scenarios that concerns the market. Bitcoin, which has increased by 0.39 %in the last 24 hours, shapes the decision process of investors with its medium -term appearance. Analysts benefited from technical analysis data on possible regression and horizontal course scenarios.
Support and resistance points in technical indicators
Analyst Lark Davis argues that the range of $ 108,000-112,000 may be a possible support level after the recent slowdown in Bitcoin. According to Davis, this region was a ceiling level where the price was attached to the rise at the beginning of the year, and the resistance point in technical analysis can later work as a support zone. Davis, Fibonacci correction levels and 20 -week exponential moving average overlap, he says.
Lark Davis, “Fibonacci rates not only mathematical, but many investors plan to make purchases, because they are psychologically important levels,” he evaluated.
The condensation of all these technical indicators in the same region (called “overlapping) increases the expectation that these levels can create attraction space for price among analysts.
Horizontal course and alternatives
Another analyst Michaël Van de Poppe says Bitcoin’s latest peak attempt has failed and sales pressure has increased. According to Van de Poppe, the market can move horizontally for a while. In this process, the price fluctuates in a certain band, leveraged positions may be reduced and a new balance may occur in the market.
Michaël Van de Poppe said, Bit Bitcoin can move horizontally, breathing on the market for a while rather than change direction, and the ground of a new rise can be prepared, ”he said.
Van de Poppe also said that the stagnation in Bitcoin during this period could increase the interest in alternative crypto beings.
Expected mobility in subcoins
If the market watches horizontally for a while, it is suggested that there may be moving days in large subcoins. During the past periods of Bitcoin in the past, it was observed that major alternative assets offered more returns to investors. In this way, attention in the market may shift from Bitcoin to other large assets.
“When the rise of Bitcoin stops, investors often turn to large subcoins for high return,” the opinion is included.
Although Davis and Van de Poppe foresees different scenarios, instead of a large -scale withdrawal in the market, they point to the possibility of more corrections or consolidation.
According to Coindesk Research’s technical analysis, Bitcoin continued its rise in a 24 -hour time period and tested short -term resistance levels. During this period, the price volume is seen, the price encounters short -term resistance around 118,600 dollars, and then a consolidation of $ 118,400 is reported. This is considered that the market is preparing for a new rise.
Experts are united in the opinion that Bitcoin may rise with a withdrawal by showing a retreat to the $ 108,000-112,000 band in the coming period, or act horizontally for a while and enter the power collection process in the market. Both scenarios indicate that positive air is generally protected in medium and long -term trends.
As a result, investors are advised to closely follow the direction of Bitcoin in the short term. Monitoring possible mobility and support-remedies in subcoins can contribute to a better understanding of medium-term trends.
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.
