Bitcoin participated in a recovery trend for less than $ 100,000 last weekend. This psychological break was undoubtedly democratic. However, the largest cryptocurrency by the market capitalization was later recovered and pushed to $ 108,000 before reaching resistance. This resistance has become a major disorder of the campaign for the highest ever, and it has a slight impact on the price as the momentum decreases at this level.
Bitcoin resistance says that a conflict can occur.
In the TradingView post, Crypto analyst FirstNamehelen explained the resistance level that Bitcoin could not win. The analyst emphasized $ 108,200 and $ 108,800 as a concern, where there was a significant resistance to bitcoin prices.
According to Helen, this is an important reason because it was an upper limit of the previous price. But in bidding to go beyond resistance, the re -examination failed, suggesting that bears are still controlling the price.
After this push -down, Bitcoin Price is lower than the support level over the last few days. This sometimes means collecting momentum that raises the next step, but the password analyst explains that this means that this is hesitant in the market. Investors are willing to move forward and keep them carefully, so the potential of weak reversal increases as the pressure rises.
The possibility of reversal is not a continuous movement in which the price can only reach the short -term rally and the price can reach the new high. It is highly likely to continue to fall unless the price decides to resist and moves to $ 110,000.
Helen predicts that the price can fall to the next level in light of the pile bear pressure. When the municipal wave moves, this is at $ 103,000. It also coincides with the tendency to decrease in the peak in mid -June.
If this weekend is similar to last weekend, Bitcoin prices can be sent to less than $ 100,000 after seeing another major conflict. The 10%conflict will show the lowest re -examination in June. In particular, it is rich in uncertainty about the Middle East War. However, if the momentum rises again, it may be possible to escape.
At the current price, bitcoin prices are only about 5%of a record high of $ 111,900. Meanwhile, the Altcoin market continues to have difficulty depending on the low price.
DALL.E’s main image, TradingView.com chart
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