The price of bitcoin has been close to the highest level, but it is still weak in the background of digital assets. As the new peaks have soared during the weekend, there are several gaps, and according to history, it suggests that Bitcoin must withdraw to fill the gap before starting the rally. This gap now returns to the highest level ever before the rally begins last week.
The V -shaped pattern shows a bear that controls
Encryption analyst Youverse explained why a conflict may soon occur. The first point he pointed out was that Cryptocurrency made a V -shaped pattern after a record high of $ 123,000 or more, which is generally weak. This is because profits are more prominent, showing the transition to the seller control. This is just the beginning, as more weak development progresses.
Two fair value differences (FVGs) were created in the four -hour chart and one was already filled. The first was a re -test of $ 119,000 and $ 120,000 and was eventually rejected. Therefore, this can fill one more gap, which is 4H FVG at the previous high. This suggests that it can also be trusted by the analysis and the other gaps created.
The analyst raised the second 4H FVG to more than $ 111,000, consistent with the previous highest rotation resistance. He thinks this is to make the level “magnet”. Especially when investors begin to benefit. Strong sales pressure can provide additional exercise for the price drop to $ 111,000.
Another major problem now is the price of Bitcoin We have formed a CME gap As the price is left and during the weekend and the CME gap is full of $ 114,000- $ 116,000. Earlier this week, I had already tried. But $ 114,000 did not touch. If this CME gap is filled, the second FVG is much more likely to be filled with $ 111,000.
Bitcoin prices are still strong.
The gap is still heavy compared to the price of Bitcoin, but there is still optimistic in cryptocurrency. An example of this is an increase in price rising, suggesting that the buyer is dominating the volume at this level. According to CoingLass data, this week, the average daily amount was over $ 100 billion.
Bitcoin Fear & Greed Index is still greedy and has not yet entered extreme greed. Public interest is also nearing the highest level, which can fall prices before modifications.
DALL.E’s main image, TradingView.com chart
Editorial process focuses on providing thorough research, accurate and prejudice content. We support the strict sourcing standard and each page is diligent in the top technology experts and the seasoned editor’s team. This process ensures the integrity, relevance and value of the reader’s content.
