The Bitcoin market has been marked by notable volatility recently, with prices fluctuating significantly, dropping near the $98,400 level on Monday before a rebound of over $105,000.
Potential 12% will be raised to $92,000
The Technical Analyst Doctor’s Interest recently shared an important note on social media platform X (formerly Twitter). show That there is a significant Chicago Mercantile Exchange (CME) gap of $92,000.
Analysts predict that this level is likely to reach the end, suggesting that filling this gap could bring additional fear to the market.
The physician’s interests also highlight the presence of significant liquidity in the region, which has become a potential target for Bitcoin in the short term. This could potentially mean a 12% retrace BTC’s price.
Doctors’ benefits also pointed to several technical indicators that suggest a bearish trend in Bitcoin. He highlighted the crossing of moving average convergence/divergence (MACD) on the daily chart and the breakdown of key levels of $104,000.
Additionally, analysts mentioned the temporary loss of what he calls the “golden line.” This is currently located at about $103,000 for BTC, another important level to monitor to achieve further recovery.
He warned that physicians’ benefits need close to critical levels of attention, particularly those of $100,000 and the CME gap. He even assumes that in the worst-case scenario, you’ll even see Bitcoin being fixed all the way to the $82,000-84,000 range.
The fate of Bitcoin depends on the Golden Line
Doctor’s benefits I explained in detail The situation lies on the Golden Line. This serves as an important retest to check for any breakdowns that occurred yesterday. To ensure that Bitcoin continues to be bullish, it will need to close above this level.
Additionally, he identified important things. Liquidity cluster At the mark of around $113,000, note that the area is overflowing with short liquidation. If Bitcoin is integrated above the Golden Line, the uncertainty that has plagued traders can be dissipated, allowing for a transition from a protective strategy to a more bullish outlook.
His analysis concluded the interests of the doctors. Statement He initially expected Bitcoin to reach $90,000 before the new all-time high (ATH), but the current market uncertainty resolution suggests this may no longer be necessary.
With the war between Israel and Iran and the seemingly volatility, he believes Bitcoin can accelerate to its highest ever high without having to revisit the $90,000 mark.
When writing, BTC trades at $105,560 and records a 3% price surge over a 24-hour time frame. At this level, the market’s major cryptocurrencies are 5.3% below its record high of $111,800.
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