The price of Bitcoin found support in EMA for 21 days last week, and avoid a deeper segment after closing it at its lowest levels in the previous week. Bulls managed to defend the level of $ 107,000, but the momentum stopped slightly lower than the resistance. From Wednesday to Friday, Bitcoin failed to close more than $ 112,500 and ended the week with an amount of $ 111.162.
The most prominent inability to restore 112,500 dollars is a temporary stoppage in the last recovery. However, the seizure of $ 107,000 has kept the bias a little in the upward trend at the present time. Traders closely monitor whether this monotheism develops into a base or a continuation of the declining direction.
The main support and resistance levels now
Nowadays, $ 107,000 is the most important defense line for bitcoin price. The collapse below would convert the focus into reducing support areas at $ 105,000, 102,500 dollars, and perhaps 96,000 dollars.
On the upper side, $ 112,500 is the first resistance that needs to be stirred to support. If Bulls managed to close the daily at this level, then the next goal is $ 115500. Besides, it lies 118,000 dollars – a huge barrier that will need near a week to confirm the renewed upward trend.
Expectations for this week
Next week can bring more fluctuations. On Thursday, September 11, inflation data in the United States is scheduled to be at 8:30 am. The hotter print of expected to provoke the feeling of “risk” and withdraws bitcoin less, while a more soft number can provide relief to the bulls.
If the bitcoin price can recover 112,500 dollars early in the week, the payment is likely to be about $ 115,500. Failure to do this keeps the market vulnerable to another test of $ 107,000.
Market mood: Neutrality, a climb tending – support is to keep, but resistance is still firm.
The next few weeks
If we look further, Bitcoin should finally scan $ 118,000 with a condemnation of the re -establishment of the rising translator and the bears motivation. It is possible that the decisive weekly closure above this level will attract momentum buyer and improve morale in October.
If 107,000 dollars collapse instead, the path opens about 105,000 dollars and $ 102,500, with a sweep up to $ 96,000 before finding a solid bottom. Looking at the last closure pattern, some analysts warn that another decline cannot be excluded.
Terminology guide:
Bulls/Saudi Arabia: Buyers or investors expect the price to rise.
Bears/landing: Sellers or investors expect a decrease in the price.
The level of support or support: The level in which the price should be maintained originally, at least in the beginning. The higher the touches of support, the more weaker, the more it will fail to keep the price.
Resistance or resistance level: Reverse support. The level that is likely to reject the price, at least in the beginning. The higher the touches in the resistance, the more weaker, the more it will fail to curb the price.
EMA: Si -moving average. The moving average that applies greater weight to modern prices is more than the previous prices, which reduces the delay in the moving average.
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