Key points:
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Bitcoin’s support is $107,245, indicating that investor sentiment is still positive and is about to fall every time.
Bitcoin (BTC) Attempt to rebound from the moving average, which indicates buying at the inclination. Although the price is just below the historical height of $111,980 Not in overrated areas yet. Crypto contributor Axel Adler Jr. said in an article on X that 1.1 times Mayer multiples are in the neutral zone (0.8-1.5°).
Can Bitcoin stand out and resume its upward trend? Let’s analyze the charts to find out.
Bitcoin price forecast
Bitcoin is squeezed between the 20-day exponential moving average ($107,314) and the overhead of $110,530.
The positive 20-day EMA and the relative intensity index (RSI) signal in the positive region indicate that rupture may occur in the ascending space. If the resistor is scaled by $110,530, the BTC/USDT pair may challenge the all-time high at $111,980, and then challenge the reverse head and the neckline of the stock.
Sellers are expected to defend the neckline harshly as the breakout above will complete the bullish setting. This opens the door to potential gatherings, opening toward a $150,000 mode target.
If the price drops and breaks through the 50-day simple moving average ($106,642), this optimistic view will be invalid in the short term. This could attract short-term buyers to book profits, boosting the couple to $104,500 and then to $100,000.
Related: Bitcoin price rose 72% and 84%, while BTC holders achieved that last two times
The support for both is $107,245, indicating that every second dip is being purchased. If the buyer pushes the price above the downward trend line, the developed downward channel mode will be invalid. The failure of bearish patterns increases the likelihood of rest, exceeding $110,530. If that happens, the two could climb to $111,980 and then to $113,500.
Instead, if the price drops and falls below $107,245, the bearish setting will be completed. This could put the couple in a $103,960 model goal.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
