Another volatile trading week in the Bitcoin (BTC) market was characterized by almost equal quantities of losses and gains. According to data from CoinMarketcap, Bitcoin moved between $ 95,000 – $ 98,000, which constitutes a strong monotheism. However, the BURAK KESMECI Popular Experience stipulates that the critical levels of the leading encryption currencies lie outside this pricing range.
Bitcoin key levels to watch – $ 94,000 support for. $ 117,000 resistance
in X post On February 14, BURAK KESMECI shared an interesting technical analysis in the BTC market highlighting two main regions who could decide the short -term price direction.
One of these critical areas is a double gold rate of 1.6, which is currently $ 117,000. Doubled Golden ratio 1.6 is an evaluation tool used to determine biomedical resistance areas on the bull market. Therefore, Kesmeci assumes that if the Bitcoin Futures market closes more than $ 117,000, immediate traders can expect the bull collect to re -discover its shape, which leads to an immediate direction.
The second important price area set by BURAK Kesmeci is a 111 -day moving average (111DMA), which is currently $ 94,000. 111DMA is an average incomplete average index that often acts as a major dynamic support while operating the bull.
Consequently, the weekly or daily price closes less than $ 94,000 in the futures market will call a strong telephone pressure on Bitcoin translation into an immediate decrease in the price. Based on the previous Kesmeci, Bitcoin is likely to start close to the current Tawheed area to record any large price movement.
The upward factors that may support the outbreak of prices include an increase in ETF flows Corporate encoding, in addition to great progress in the new US agenda supporting Crypto. On the other hand, investors must fear variables such as negative total economic developments, for example, a rise in the interest rate in the federal reserve, especially given the recent rise in American inflation.
Excination BTC flows amounted to $ 1 billion – a decrease in incoming prices?
In other news, Intothheblock Analysis website Reports Bitcoin market has recorded a flow of more than $ 1.3 billion, which led to a clear flow of $ 1.04 billion. In general, huge exchange flows are explained as a declining signal as investors are likely to transfer their assets in preparation for sale on the stock exchange.
At the time of the press, the leading cryptocurrency continues to trade at 97,653 dollars, which reflects a 0.50 % increase during the past 24 hours. However, the daily trading volume decreased by 12.80 % and is currently 32.29 billion dollars. With the maximum market of $ 1.93 trillion, BTC continues the largest digital assets.
