Bitcoin Bullish Again? Potential All-Time High in Sight: Analysis

The cryptocurrency market shows relatively calm on Thursday, with top -notch assets mostly ruled on a day while traders digest positive macro news and think where they can assign their positions.

Bitcoin He has gained 0.4% in the past 24 hours, tearing close to $ 109,800 after he briefly reached the highest of $ 110,590, Coingecko reports. Ethereum They also climbed above $ 2,590, although merchants remain uncertain about their direction as prices continue to go aside.

Almost all of the top 100 coins posted one -digit moves, with Saltworks The same corner Erupt Because it is the only exception, in the past 24 hours 10%.

Traditional markets gathered after stronger workforce data in the US. Ministry of Labor reported 147,000 new jobs without farms in June, far above 110,000 forecasts and more than a revised 144,000 May. The unemployment rate fell to 4.1%instead of increasing to 4.3%expected, showing continuous economic resistance despite the FED spout.

The Dow increased 75 points (0.17%), S&P 500 climbed to 0.38%, and Nasdaq led with 0.62%. However, the jump in the 10-year treasury gives 4.334% suggest that investors now see a smaller chance for immediate reduction of the rate, mastering the capital gain despite winning.

The weekly requirements for the unemployed also fell to 233,000 compared to 240,000 expected, and the four -week average dropped to 241,500. Data signal the permanent power of the labor market and are intended for merchants who are betting that the FED will keep rates at 4.25-4.5% longer.

Bitcoin (BTC): Try to be Bull again

The Bitcoin daily gain to the current price of $ 109,781 is a measured power, not an explosive momentum, with the leading currency of consolidated near the recent highlights after it was briefly at the top of $ 110,500. This was said, as much as today’s movement, it was enough for the prices to break the resistance of a bear channel (yellow line), which existed since the last 39 days-day when it set up current high for more than $ 111,814.

The daily chart reveals a sensitive balance market. Relative power index (RSI) in 60 indicates a healthy bull’s momentum without approaching an overcrowded territory above 70. This reading suggests that Bitcoin has room to run higher before faces sales pressure from taking profit. Traders usually look at RSI readings between 50-70 as a “sweet spot” for permanent training, and breaking the bear channel at such a healthy level is good for those who expect momentum.

The average orientation index (ADX) to 12 talks about a tin story. ADX measures trend power regardless of the direction below 20 indicate a weak or non-existent trend, while values ​​above 25 confirm the strong movement of the directed. Bitcoin’s current Adx suggests that the market is in the consolidation phase, and neither bulls nor bears keep decisive control. This often precedes significant moves as a market coach for a breakthrough.

This, of course, is to expect. Even the current bear correction has a very light slope, and the move over resistance in a short term cancellation of a part of the bear strength-not enough to say that the coin is a short bull, but interesting to consider together with other indicators.

Exposed moving average paintings are definitely a bull’s picture, especially for traders with longer time frames, with 50-day eMa positioned above 200-day EMA. This configuration usually signals the permanent pressure of buying and a healthy market structure. When the shorter average remains above the long -term, it indicates that recent customers are willing to pay higher prices than historical average.

An indicator of a squeezing moment that shows the status “on” suggests that the compression of the volatility occurs. Imagine this as a spring -winding spring – when it is betrayed, it often results in an explosive movement of prices in any direction.

In other words, there is still a potential to continue the bear trend, but it is probably that they will soon see a big movement while prices are trying to break through from this zone

Key levels:

• Immediate support: $ 108,000 (psychological level and recent consolidation zone)
• Strong Support: $ 104,000 (50-day convergence of EMA)
• Immediate resistance: $ 110,000 (psychological barrier)
• Strong resistance: $ 112,000 (access to a recent high cycle cycle)

Ethereum (ETH): Release despite the technical winds

Ethereum is a little worse today, with a small movement to the current price of $ 2,592, which comes after a jump yesterday, which was prices from the daily lowest $ 2374.

RSI placed etherum on 57 on neutral territory. This reading on the middle country often points to the market in the transition, where the previous trend (teddy bear in this case) may lose a couple. For merchants, this suggests that ETH could build a base for further progress without the immediate risk of a sharp withdrawal that usually follows overcrowded conditions.

Reading ADX 12 Mirrors Bitcoin -Late trend firmness, indicating Ethereum, is also in the consolidation phase. However, this low ADX after a strong shift upwards could be interpreted that the market digested profit before the next leg. When adx readings remain below 20 after a significant price movement, this often signals the accumulation with smart money.

As for the technical factor, the formation of the “death of death” visible on the chart-50-day ema that sits below 200-day Emma and the inability of traders to form a golden cross, despite both EMAs were so close to each other. This bear configuration usually indicates that sales pressure has dominated recent trade. However, today’s price action, despite this winds, suggests that customers are convicted, which would potentially set up for bull crossover if swing continues.

An indicator of the swing of squeezing that shows the status of “On”, in combination with today’s move, suggests that Ethereum can be at an early stage of the volatility expansion phase. When prices are broken while the grip is active, it often leads to permanent trendy moves.

Key levels:

• Immediate support: $ 2,500 (psychological level)
• Strong support: $ 2,400 (recent momentum)
• Immediate resistance: $ 2,700 (50-day EMA zone)
• Strong resistance: $ 2,900 (200-day EMA convergence)

Edited Andrew Hayward