After the blow The Bitcoin price, the lowest level of less than $ 100,000 during the weekend, saw a 10% bounce. Again $ 106,000. This was a welcomed development by providing some slogans to Altcoins. However, this move seems to be short of the life of a double tower and fair value (FVG), which is expected to be close to the lowest weekend.
Bitcoin completes a fluid sweep to form a double tower.
After Bitcoin Price moved to more than $ 106,000, password analyst Louigi pointed out that digital assets would have formed a double top, which is weaker in cryptocurrency. This occurs because the market is completed as the market determines the new direction.
After rotating in the direction, when the price stopped early, there were signs of the buyer exhaust. This suggests that optimistic momentum has decreased, which began with $ 106,600 as a major resistance area and was expected to reject.
After the Sharp moved up, the encryption analyst left a difference between the buyer and the seller, which is generally called the fair value (FVG). These are areas that tend to be priced to restore balance, and are often filled in a row quickly.
In this case, there are several fair value differences and towards $ 102,000. According to the analyst, the first is less than $ 105,000, which is the 0.28 Fibonacci Retression level and the first line of reactions. Louis explained that if it drops to this level, the price will move to the second interval of less than $ 104,000 at 0.5-0.618 FIB level.
Finally, in the lineup, it is 0.618-0.65 FIB level of $ 102,000, which is an important intersection of Bitcoin. If this level is not maintained, the return to 0.786 FIB is above the price range of $ 101,000.
Why this paper can be invalidated
According to crypto analysts, the price of bitcoin was $ 106,600, forming a double tower, which was at the peak at the time. But Bitcoin surged beyond that point and even reached $ 108,000 before being rejected downward.
Due to price recovery, it can suggest that FVGs worth less than $ 106,000 may remain without being filled with the Bitcoin campaign for the highest ever. Less than 10% of the new history of the new history allows the bull to dominate in the third quarter of the year.
DALL.E’s main image, TradingView.com chart
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