Bitcoin Analysis $BTC
We notice in the chart that trading has continued for more than 9 days at a resistance level of 105,000 dollars, then the price broke through the resistance with a strong daily candle, reaching areas of 107,000 dollars.
The price then sharply retraced to areas of 102,000 dollars to liquidate as many buying positions on Bitcoin and cryptocurrencies in general.
The price then quickly rose above the mentioned resistance due to the increase in Bitcoin's share of the incoming money to the market in general.
Currently, Bitcoin is trading at a price of 107,200 dollars, which indicates very good signs for an increase and reaching new areas.
If the recent historical peak is broken and closed with a daily candle above it at prices of 109,000 dollars, and then the monthly close above the resistance, the price may reach very high numbers and then achieve a new historical peak, which could initially be at prices of 150,000 dollars and then to 200,000 dollars, at which point it is expected that the current upward wave will end.
Note: Everything published is just an effort and my personal opinion and not a recommendation to enter or exit. Your entry or exit from the market is a decision you bear the consequences of.
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