Bitcoin Price: What’s wrong?
Bitcoin ($BTC) is traded $107,917just below the critical $109,000 Resistance level. After a solid meeting that began nearby $96,000Bitcoin prices have steadily risen following the ascending trend. However, recent candles have shown hesitation near the $109,000 barrier.
BTC/USD 4-hour chart – TradingView
Many retailers panic because of a Big 80,000 BTC wallet transferSmart Money has found an opportunity. The whale bought 567 BTC, worth $61.1 million yesterdaystrengthens confidence in Bitcoin’s medium-term outlook. This is a classic dip viewing move from experienced players.
Bitcoin price analysis: Trade setup and key levels
4-hour chart Consolidate Bitcoin along the rising support line (orange) to maintain a higher and lower value. Despite its rejection at $109,000, BTC literally holds the line.
Important levels to see:
- support: $107,000 (trendline), $103,343, and $100,000 psychological
- resistance: $109,000 and above breakouts can open a pass of $112,000 or more
RSI is neutral 47.14under the midline of 50, shows a mild bearish divergence. This suggests short-term caution. Once the ascending trendline is maintained, breakouts over $109,000 are increasingly possible. If that fails, you can quickly retest $103,000 or $100k.
Bitcoin Price Prediction: What’s next for BTC?
In the short term, Bitcoin prices are stuck between consolidation and breakout. If buyers defended the trendline and RSI rose above 50, they could see a retest and breakout of over $109,000. It will become a target and change momentum again $112,000 to $115,000 By mid-July.
However, if the rising support breaks with strong volumes, $103,343 Levels become magnets and the market can slide even further $100,000 Psychological Zone – Classic Support Flip Area.
For now, the market is looking at two things.
- Whale will continue to buy dipLike the recent purchase of 567 BTC.
- If retail panic sales increase After being scared of an 80K BTC wallet.
Currently, Smart Money is still in accumulation mode. Don’t ignore that signal.
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