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Key point:
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Bitcoin finds support at $ 107,245, which shows that investors’ sentiment remains positive and every minor decline is purchased.
Bitcoin (BTC) attempts to reflect moving averages, indicating the purchase of decreases. Although the price is just below the historically maximum of $ 111,980, it is not yet in an overvalued zone. Kryptoquant contributor Axel Adler Jr. In the paper on X, he said Mayer a multiple in 1.1x was “in a neutral zone (0.8–1.5 part)”.
Could bitcoins break free from his historical maximum and restore his uptrend? Let’s analyze the charts and find out.
Prediction of bitcoin price
Bitcoins are squeezed between 20 days of exponential gliding average ($ 107,314) and overhead resistance $ 110,530.
Oppinging 20 -day EMA and the relative force index (RSI) in the positive signal zone that it can happen to the break. If the resistance of $ 110,530 is modified, a few BTC/USDTs could have historically the highest to $ 111,980 and later a neckline of the inverse head and arm pattern.
Sellers are expected to defend the neckline sharply, as the break over it will complete the bull settings. This opens the door for a potential assembly towards the target of a $ 150,000 pattern.
This optimistic view will be invalidated in the near future if the price decreases and falls below a 50 -day simple gliding average ($ 106,642). This could attract short -term buyers to reserve profits and pull a pair to $ 104,500 and then to $ 100,000.
Related: Bitcoin price gained 72% and 84% last twice BTC holders did it
The couple finds support at $ 107,245, suggesting that any minor drop is purchased. If the buyer drives the price above the drop line, the descending pattern of the channel will be invalidated. Failed bear pattern increases the possibility of a break over $ 110,530. If this happens, the couple can rise to $ 111,980 and then $ 113,500.
Instead, the bear settings are completed if the price decreases and falls under $ 107,245. This could sink a couple to the targets of the $ 103,960 pattern.
This article does not contain investment counseling or recommendations. Every investment and business step includes a risk and readers should do their own research in decision -making.
