Bitcoin prices have fallen more than 3% last week because a wide range of cryptographic markets suffer from general price modifications that are affected by macroeconomic pressure. In particular, Premier Cryptocurrency is currently trading more than $ 104,000, down about 7% from $ 111,970 to $ 111,970. Market analyst DAAN CRYPTO emphasized a powerful potential to stop the price drop further while it is still a simple modification.
$ 97,000- $ 99,000 is at the main BTC price level.
In a simple X post on May 31, DAAN CRYPTO shared a cautious outlook for Bitcoin among the ongoing price modifications. Analysts pointed out that if the retreat persists in June, Bitcoin can find a reliable market resistance at about $ 97,000 -$ 99,000.
Bitcoin’s next major support level comes from joining the technical indicators. As you can see in the chart below, the $ 97,000-$ 99,000 price area shows the intermediate range of Bitcoin trading channels between $ 90,845 and $ 108,386, hosting the 200-day average and 0.382 Fibonacci Retression level.
The mid -range of the trading channel usually acts as a support or resistance at the core level, depending on the location of the comparison. Among the price modifications of Bitcoin, the current mid-range represents the following main price floor of the Premier Cryptocurrency of $ 97,000- $ 99,000.
On the other hand, the 0.382 Fibonaki support level represents a sound market correction zone, which means that the price is generally withdrawn to this area before resuming the initial trend. In addition, the 200 -day MA is a long -term indicator of market closing for the last 200 days. In addition, it functions as a support level during the strong trend that acts as a general re -testing level before the price rises.
In general, all three indicators suggest that $ 97,000- $ 99,000 will be a rapid sound technical support area. However, the loss of the support area will threaten the optimistic potential of Bitcoin, with the next level of support of about $ 94,000.
Bitcoin price outline
Bitcoin at the Prestation Time is traded at $ 104,650, which reflects a slightly price profit of 0.14%last day. Premier Cryptocurrency also reports 7.21%monthly profits, indicating that most new market participants maintain profits. However, as a result of a 2.86% decrease per share, it suggests that the resurrection is needed to stop the creepy market demand.
PEXELS’s main image, TradingView chart
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