Bitcoin (BTC) $105,062.89 The weekend was traded in a narrow range without showing a significant move. The largest crypto currency is mainly horizontal in the ongoing correction movement since May summit. Experts state that the price may fall towards important support levels, while the long -term rise trend is critical to protect these supports in order to prevent the deterioration of the trend. The market is waiting for a clear break signal.
Latest situation in Bitcoin price
The correction process, which started after the high levels of Bitcoin in May, continues. Price movements were in a limited band without showing a significant orientation during the weekend. The current market dynamics shows that the fall trend is dominant.
Analysts predict that Bitcoin may fall further in the coming days. At this point, the first critical support zone stands out as a range of 99 thousand 200 and 92 thousand 800 dollars. In case of a permanent decrease below these levels, the next important support point is shown as 81 thousand 340 dollars.
A candle closure that will be below this important threshold may mean that the current bull market has ended according to some experts. Rarely seen in the market triangular formation Although the possibility of its formation is discussed, there is no clear technical sign in this direction yet.
Long -term rise scenario and target prices
Following the completion of the current correction movement, the long -term optimistic scenario for Bitcoin is still valid. If the price protects the mentioned critical support zones and receives a strong reaction from these levels, the rise trend is expected to start again.
If this scenario occurs, Bitcoin’s first goal stands out as the $ 130,000 level. It is estimated that this rise movement may extend up to 190 thousand dollars if market conditions are further recovered. Therefore, contrary to the decrease scenarios, there is a significant earning potential if the support is preserved.
Short -term technical view in Bitcoin
In a shorter period of time, some small support levels of Bitcoin are traded. General expectation during the weekend crypto currencyIt was in the direction that he had a limited recovery or continued his movement in the existing horizontal channel and then entered the fall in the trend of fall. Although this expectation has not yet been realized, it continues.
In order to create a more positive picture in the short term, Bitcoin needs to exceed 108,822 dollars and turn this level into support. However, there is no clear indication that such a movement has started. The market awaits more signals before setting a clear direction.
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.
