The current price of Bitcoin is around 107,000, and the bullish trend remains unchanged. The high-level consolidation has been testing the resistance level around 107,000 for three consecutive days. The EMA15 trend fast line support has reached 104,000, and it is evident that the speed of picking up from the bottom is quite fast. The upper resistance level should pay attention to the Bollinger Band upper track, which has also moved up to 109,500, while the middle track has come to 101,500. The MACD top divergence has formed a death cross trend, indicating that the main force is now well-prepared with two strategies, and the purpose is clear: liquidation.
However, I personally believe that the current price is at a historical high, which is a very sensitive area. The market has a large number of positions betting on new highs for Bitcoin, and the crisis caused by the price movement the day before yesterday has been temporarily resolved. There is still a considerable probability that it will break through the historical high in the near future, possibly within today or tomorrow. I predict that after the breakout, there will be a larger level of supply emerging.
