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After reaching a low point of one week on Thursday, Bitcoin (BTC) tries to reclaim the most important area of $ 104,000- $ 105,000 as support, but some analysts have warned that a visit to the low points of BTC could be if the volatility continues.
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Bitcoin to continue turbulent performance
On Thursday afternoon, Bitcoin fell by 5.5% to the support of $ 102,000 that was fed by the news of the conflict in Iran-Israel. In the midst of the market commitment, the Crypto flagship did not succeed in holding its three-day reach of $ 108,000 $ 110,000, which fell to the middle zone of his breakout range after November.
In particular, BTC had just recovered from the retest of the $ 100,000 level last week, so that the most important area of $ 106,800 was recovered earlier this week as support. Daan Crypto Trades noted That the cryptocurrency “saw a clear trigger with that retest of the reach high”, driven by the heads of the unrest in the Middle East, because it is “still a fairly volatile and headline-driven market.”
Bitcoin took the liquidity above and below the local price range, explained the analyst, and added that it is starting to act more like the turbulent (pre) summer environment “that he had predicted.
Despite the decrease, the analyst emphasized that the range remains high the most important level for a greater displacement:
I think the reach high is an important area for the bulls to hold. If this is not the case, I think a case should be made for a local high in and for the market to go further within this reach. At this point I am pretty sure that if the price breaks the current monthly High of Low, it will continue to trenze for the rest of June (and possibly beyond).
However, he suggested that investors are careful until the BTC price again convincingly breaks over the reach and keeps it as support on the higher timetables. “Don’t chop yourself in the coming weeks/months,” he warned.
Volatility could send BTC to lows
Analyst Carl Runefelt From The Moon Show marked A potentially double top pattern that forms on the 4H graph of BTC and noted that if the price did not bounce from the previous falling resistance, a week ago, it could fall further into the central zone of its range.
According to the analysis, if it loses the middle range, BTC could risk a retest of reach reach, around the $ 90,000- $ 92,000 area. Likewise, Market Watcher Merlijn suggested the trader that Bitcoin could fill the lower CME hits if the war story intensifies.
BTC opened two CME openings between the end of April and the beginning of May, located at $ 92,500 and $ 97,300 respectively. Nevertheless, the trader is of the opinion that this could serve as a discount for investors, because BTC “has already been left open higher CME holes”, indicating that a rebound to the levels is probably.
Moreover, he noted that Bitcoin is that reproduction The same structure as last year, which could indicate a huge rally brewing. In 2024 the cryptocurrency was confronted with rejection of a falling resistance from several months after his all-time high (ATH) rally, which set the high level reach.
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According to De Post, after the liquidity grip, BTC broke from the most important falling line, the range of the range was rejected and the falling resistance restored as support for a new rally.
Bitcoin seems to follow this path in 2025, with the declining resistance to test again after the outbreak. “If you know the pattern, you know what will come next,” he concluded.
Featured image of unsplash.com, graph of TradingView.com
Credit : www.newsbtc.com
