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Bitcoin prices have become bearish after hitting a new all-time high of over $111,000 in May. This turn of the tide was expected as Larry has made Bitcoin holders a huge profitshows the risk of profits that can reduce prices. So far, at the time of writing, prices have already fallen by 6%, a record high, down 6% from the $104,000 trend. However, as the bears control it, the decline is likely not over, and cryptocurrency could fall below the six figures again.
The greatest pathology of bitcoin ever
Has a pseudonym analyst using Youriverse on TradingView’s website I explained it Bitcoin prices have moved over the past few weeks and why the market is moving like that. As he explains, Bitcoin is Textbook accumulation It began in the second week of May since the upward trend. This accumulation was part of the reason why cryptocurrencies were rallying at new, history-highs.
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At this point, Crypto analysts revealed that Bitcoin prices saw more compression like that Higher lows reached and resistance remained relatively flat. Furthermore, the sales pressure that had shaken Bitcoin prices over the past few months due to Donald Trump’s tariff war also declined at this point, with buyers in control of the price. The outcome of this could be the possibility of the “power of three” explained by analysts.
These three were part of the reason Bitcoin prices began to move upwards. The resulting rally saw the first push towards previous all-time highs, followed by a new all-time best push, over $111,000. However, before Bitcoin broke $112,000, price action waned.
As a result of the lowering upward pressure, a reversal is inevitable, and Bitcoin prices are It will decrease at $106,000 towards previous support levels. However, this support has not been retained since falling below this level, as it has shown a “significant change in market structure.”
There is a possible reason for rejection to $92,000
Analysts explained that “Power of Three” could be unfolding right now. I could see the price go further down To ensure that large investors are dumped by a less informed retail crowd. Plus, Bitcoin’s price has been long below the $106,000 support, which makes it more likely that the price will go down even further. “The refusal above the ATH and subsequent breakdown below $106K has introduced a significant overhead supply, which could serve as a resistance in the short term.”
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Given this, he expects the price of Bitcoin You can finally get back to $100,000 They can even reach the mid-$90,000. However, when this happens, it may mean an opportunity to buy, as this area attracts more liquidity and can act as a bounce off point for another gathering, rather than causing a bearish trend.
“This potential pullback should not be viewed as a sign of weakness,” the analyst said. “In many bull cycles, such modifications and shakeouts help to wash away stacked positions and reset emotions, and ultimately lay the foundation for upward momentum.”
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