Bitcoin has been trying to break the highest decisive level of $ 109,000 since last week, but still faces severe resistance. Despite multiple batches during the day, the bulls were unable to secure a decisive closure over this main area, while maintaining the market in a state of suspense. Although BTC is still firmly higher than the $ 100,000 psychological brand, the more he fails to restore 109 thousand dollars and move to the discovery of prices, the greater the risk that the bullish momentum will fade.
Currently, buyers still retain strong support and defense levels and maintain the structure of the upward trend. However, without sure, merchants have become increasingly cautious. The clean transition to the highest levels of all levels will probably lead to renewable capital flows and a broader market, but until this happens, Bitcoin remains at the crossroads.
Support this unconfirmed view is new data from Cryptoquant, which shows that BTC is currently exchanging above the level of the achieved annual rate. This indicates that bitcoin is not significantly at the height of the peak and does not neglect the sale, which puts the market in a neutral area. Historically, these sites are often preceded by specialization DirectionThe coming days made it very important in determining whether BTC breaks up or loses momentum.
Bitcoin standardization of the market
Bitcoin has been in a unification phase since early May, as it maintained a fixed position above the level of $ 100,000 despite many attempts by Bears to break it. The only important decrease under this psychological threshold occurred on June 22, and until then, BTC quickly recovered within hours. This flexibility highlights the strength of the buyer’s interest at six numbers levels. However, although the bulls have successfully defended support, they were unable to overcome the decisive resistance of $ 110,000, which leads to increased speculation that the correction may be waving on the horizon.
Add a valuable context for this uncertainty, the best analyst Axel Adler Common visions In the distribution of Bitcoin by the achieved supply scale – a tool used to assess the cost of BTC for what investors have already paid. The supplies calculate the total value of the dollar for all bitcoin based on the prices that the last coins moved, providing a more arrangement arrangement.
The rate of the scale, which is defined as the price of the BTC / offer, works similar to the P / E in stock. The high percentage can indicate an increase in value, while that low means the potential final value. Currently, the Bitcoin price is a little higher than the annual ratio, which places it in a neutral assessment area. Interestingly, this is the same preparation that was seen in November 2024, before BTC rose from 74 thousand dollars to 107 thousand dollars.
This indicates that the market is not feverish and does not value its value, and places bitcoin in a balanced area where the main moves can develop in either direction. As long as the BTC remains in this range without outbreaks or a clear collapse, traders should remain on alert – this stage may be calm before the next big transformation.
BTC faces rejection of 109 thousand dollars as the price is
Bitcoin is currently trading at 107,531 dollars on the graph for 12 hours, which indicates the signs of unification slightly less than the critical resistance area at $ 109,300. This level was a roof for more than a month, with multiple failed attempts. The last rejection of this level reflects the constant struggle between bulls and bears, as none of the two sides was able to confirm a decisive step.
Despite rejection, the total structure is still optimistic. BTC continues to keep all major moving averages – 50 SMA (105,923 dollars), 100 SMA (105,942 dollars), and 200 SMA (97,290 dollars) – with 50 and 100 SMAs converging as dynamic support around the level of 106 thousand dollars. This alignment prefers the upward continuation if buyers can maintain pressure.
The volume has not yet appeared, indicating that merchants are still waiting for confirmation before full commitment to new positions. A powerful candle that exceeds $ 109,300 will probably pay upside down and BTC has turned to the discovery of prices. On the other hand, a decrease less than $ 105,000 will put the support of $ 103,600 at risk and open the door to a wider decline.
Distinctive image from Dall-E, the tradingView graph
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