Bitcoin Analysis

We notice in the chart that trading has continued for more than 9 days at a resistance level of $105,000, then the price broke the resistance with a strong daily candle, reaching areas of $107,000.

Then the price strongly retraced to the $102,000 level to liquidate as many buying positions on Bitcoin and cryptocurrencies in general.

The price then quickly rose above the mentioned resistance due to the increased dominance of Bitcoin over the money entering the market in general.

Currently, Bitcoin is trading at a price of $107,200, which gives very good indications of a rise and reaching new areas.

If the recent historical peak is broken and closed with a daily candle above it at prices of $109,000, and then the monthly close is above the resistance, the price could reach very high numbers and then achieve a new historical peak, which could initially be at prices of $150,000 and then $200,000. At that point, it is expected that the current upward wave we are facing will end.