Reasons to trust
Strict editing policy focusing on accuracy, relevance and fairness
Created by industry experts and meticulously reviewed
The highest standard for reporting and publishing
Strict editing policy focusing on accuracy, relevance and fairness
The soccer price for the Lion and Player is soft. I hate each of my arcu lorem, ultricy kids, or ullamcorper football.
There is a Bitcoin price action Recently, it has become relatively stable, It’s currently just over $107,000 A short time touching the previous highs Nearly $108,000.
In this background, technical analysis from popular Crypto analysts on the TradingView platform I outlined something convincing Structural setups formed on Bitcoin’s daily charts. The analysis shows that Bitcoin action is in the compression stage and could soon precede a breakout to $115,000.
Related readings
Compression structure that forms a resistance of less than $108,000
Bitcoin Price Action is currently following the movement of traditional risk assets such as the S&P 500 and NASDAQ. Recent escalations of Geopolitical tensions in the Middle East. Against this background, Crypto analyst Rlinda highlighted the structural setup that will be formed on the D1 chart, sharing the TradingView’s outlook for predicting a breakout of up to $115,000 if some resistance levels are cleared.
According to Rlinda, Bitcoin is in the middle of the compression stage just below the $108,100 resistance level. This follows what analysts describe as a false breakout above $100,000, which led to a short distribution and now aggressive accumulation zone. Daily charts show that price action has gradually tightened since June 25th, within the $106,500 to $108,100 range. Essence called for a pause for breath before the potential for growth.
The current setup already establishes well-defined boundaries, with support being $106,500 and $108,100 for immediate resistance. This breakout out overcoming immediate resistance will pave the way for the next resistance to around $110,400, bringing Bitcoin to $111,000 at the highest distance ever. Meanwhile, a short-term pullback to $105,650 is still possible before a new move to the upside.
Bitcoin price levels to see
Bitcoin price action is Really push this The resistance level is about $108,000 Build momentum for breakouts If the price level falls apart. The main resistance levels monitored are stacked around $108,100, $108,900 and $110,400. As long as the structure is maintained between $106,500 and $108,100, and Bitcoin prices are sticky near the top of that zone, breakout scenarios are more and more likely.
Currently, there is no reason for the daily and weekly candlestick charts to decline, but analysts noted that there is a temporary pullback to $105,650 and even $104,650. It cannot be excluded. However, even such a pullback could only serve as a retest, but it still retains the broader setup.
Related readings
At the time of writing, Bitcoin has traded at $107,457, up 0.5% over the past 24 hours. The breakout trigger is still $108,100. If it breaks, Bitcoin can easily move to a new high of around $115,000.
Unsplash featured images, TradingView charts
