Since it has achieved a new new time over 111,000 dollars, Bitcoin has seen a great operation in the market, which led to the correction of prices during the past week. according to Data from CoinmarketCapBitcoin has decreased by 4.36 % in the past seven days, prompting prices to less than $ 104,000.
To create an upper momentum, a prominent encryption analyst with X Username Daan Crypto mentioned that the first cryptocurrency should be decisively closed at $ 106,000, which represents a central price area in the current price structure.
Bitcoin price is outside the scope of monotheism – the negative side forward?
After restarting from Taurus marketing market In April, Bitcoin showed a specific price style characterized by an increase of an estimated price of $ 10,000, followed by unification within a specific price range for about 7-10 days before another march occurred.
After his last rise to $ 111,970 as a new ATH, it seems that the BTC prices have settled in the movement of the range between 106,000-112,000 dollars in preparation for another possible rise. However, the last negative market reaction to factors, including total economic pressure, indicates reports The United States and China trade talks The wall has hit lower prices than the Tawhid trading area of up to $ 103,867.
According to Dan Chefro in X post On May 30, Bitcoin Bulls should restore the price range exceeding $ 106,000 to stop the current decline and put intentions to maintain the current upward trend.
It is worth noting that this possible price rejection indicates that Bitcoin may reach higher in the market at an amount of $ 111,970, due to the correction of additional prices during the weeks received. The capabilities of this dignity development are highly high, given other factors, including investment funds circulating in Bitcoin registered A negative net flow on May 29, on the occasion of the first time in more than ten days trading.
Some market analysts have seen the possibility of obtaining a declining decline that would pay prices that set about $ 100,000 -102,000 dollars, while others Believe The first cryptocurrency can be specified for the collapse of significant costs in compatibility with the encryption market cycle.
Bitcoin price overview
At the time of writing this report, Bitcoin is trading $ 103,539, which reflects a 2.60 % loss last day. Meanwhile, the daily trading volume of assets decreased by 2.24 %, indicating a slight decrease in selling pressure in the market amid the current decrease.
according to Data from Blockchain SentoraMore than 1.27 million currently decrease due to Bitcoin’s decline. However, there is strong evidence to support the market recovery in case of re -testing the $ 100,000 area.
Distinctive photo of Pexels, tradingView graph
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