After an explosive breakout of Bitcoin exceeding $100,000, the price measure has settled on something familiar The strategic rhythm of integration. As of today, Bitcoin is trading around $103,000, and technical analysis shows that this phase could be milder before another important push to the $106,000 range from $110,000.
According to Rlinda, a crypto analyst at TradingView, recent integrations are not a sign of fatigue, they are strategic Reorganize the next leg.
Bitcoin price integration between key levels is gaining momentum
Bitcoin rally from the $97,860 breakout zone to the $104,300 resistance area shows a clear distribution stage, with prices hovering between $104,300 and $102,300. We see that price increases have slowed significantly over the past 48 hours.
However, the Crypto Analyst Rlinda pointed it out This range-bound movement is a positive development, pointing to bullish continuation rather than weakness. The rebound from the bottom edge of this zone, particularly as low as $103,300, $102,300 and even as low as $101,700, could serve as a springboard for breakout attempts above $104,300.
In particular, analysts emphasized that this third retest would not bring price back to resistance, leading to local drops instead. but, The resulting $103,336 violation It shows that the underlying strength is still intact. Once Bitcoin successfully retests $103,600 and bounces off the liquidity zone between $102,700 and $102,300, major cryptocurrencies could try to break through the $104,300 resistance.
If this happens, the next leg could reach up to $106,000 or $107,000, and from there, you could increase the momentum even more and raise the price beyond its current high of $110,000 by the end of May. Price targets exceed this level It ranges from $120,000 to $180,000 By the end of the year.
Chart image From TradingView: rlind
On-chain signal enhances bullish outlook
This short-term integration is It does not occur alone due to sales pressure. In particular, on-chain data and market sentiment support the upward path of Bitcoin for the rest of the month.
Over the past month, more than 110,000 BTC have withdrawn from the central exchange, according to Crypto analyst Ali Martinez. As shown in The following cryptographic chart, This has reduced the total Bitcoin reserve at the crypto exchange from 2.57 million BTC to 2.45 million BTC.
This indicates that investors are preparing to transfer their holdings to cold storage or for long term holdings. Reduces immediate sales pressure Supports upward price action.
chart X image: @Ali_Charts
Currently, the most important support levels to watch are $103,300, $102,300 and $101,700, while the highest resistance levels ever exceeded $104,300 and $108,786.
At the time of writing, Bitcoin was trading at $103,670.
Unsplash featured images, TradingView charts
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