Bitcoin 
$109,121.24after the new summit reached at the beginning of this month, it dangled below significant levels of support. Daily and short -term technical indicators reveal that sales pressure on the market predominates. The appearance increases the likelihood of retreat to the psychological threshold of the price.
According to technical indicators, direction is down in Bitcoin
In the daily graph, the price of Bitcoin has been out of the fell channel that has been followed for a long time and fell below the 100 -day moving average with the support of 110 thousand dollars. The loss of these two levels led investors to take into account the possibility of a deeper withdrawal. According to the analyzes, the next support level stands out as a fair value gap of around 104 thousand dollars and an average of 200 days for $ 100,000.
Relative power indexThe fact that it remains below 50 (RSI) 50 shows that sales pressure continues and the momentum is controlled by bears. The fact that the control of the momentum is in the bears indicates that it is the most powerful scenario for the price to maintain the downward movement.
A similar weakness stands out in the four -hour graph. The price tests the lower levels of a narrow -falling channel in the short term. Previously, 117 thousand and 110 thousand dollars supported the support was broken and re -tested. This is the biggest crypto currencyIt strengthens the likelihood of turning to the fair value gap of around 104 thousand dollars. Fibonacci, which is compatible with the levels of withdrawal, also stands out as an important threshold for a possible reaction.
The reserve decrease in the stock markets is remarkable
In -Blockchain data reveals a different table. In the stock markets since the beginning of 2024 Bitcoin reserve It is decreasing steadily. While the reserves shown with the purple line in the graphs fell constantly, the white line showing the price climbed to new record levels. In other words, as investors moved their BTCs from the stock exchanges to the cold wallets, the price reacted and moved upwards.
This contraction on the supply side supports the long -term appearance of the market. Because it’s ready for sale BTC As the amount decreases, the demanding or increase of demand paves the way for the price to move upwards again. However, short -term corrections emerge as inevitable as a result, especially in periods when demand is weakened or macro conditions change.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
