Bitcoin shows signs of life after a sharp decrease from the level of $ 115,000, with a calm re -construction under the surface. With the stability of volatility, a potential recovery began to crystallize, and the main technical signals feed on low time frames. With the stability of the market, the next step can determine the short -term trend.
The sharp decline follows the rejection of $ 115,000 resistance area
to provide to update In the current situation of the encryption market, Kurnia Bijaksana indicated that Bitcoin, along with many altcoins, saw a sharp decrease last night. The sudden step attracted the attention of merchants and analysts alike, which led to a closer look at both the technical and basic factors that lead the procedure.
From a purely technical perspective, it seems that the decrease has been caused by bitcoin, which reaches a major resistance area near the level of $ 115,000. Despite the withdrawal, Kurnia noticed that the price of Bitcoin now offers signs of early recovery. This area has worked as a price ceiling in the last sessions, and the rejection caused sale pressure through the broader encryption market.
However, on the graph during the day, a recovery is already taking place, indicating that buyers intervene to defend the main levels and may absorb the last sale. Whether this reversal can turn into a continuous step higher residue that still must be seen, but at the present time, the plans indicate that bitcoin may be stable after the initial decrease.
The graph for one hour reveals early signs to reverse the direction
Kurnia Bijaksana has provided more analysis, focusing on bitcoin price during the time frame for one hour. According to the analyst, BTC currently creates a higher low index – a classic indicator indicating an increase in bullish momentum and the possibility of ascending ascending in the near term.
Bejaxana also sheds light on the potential development of the head and reversal shoulder pattern, which is usually seen as a strong upright reflection signal. In this case, the neckline of the pattern is located around the level of $ 115300, a major resistance area that Bitcoin must penetrate to confirm more upward trend.
If Bitcoin is able to break it and keep it over this neckline, Bijaksana believes it may lead to a size of $ 118,000. The confirmation of this penetration would provide a clear bullish sign, and may pave the way for the continuous force in the upcoming sessions.
Bitcoin is currently about $ 114,315, which includes the market value of more than $ 2.2 trillion. Over the past 24 hours, a trading volume has recorded more than $ 58.8 billion, which reflects the strong market activity.
The post Bitcoin Charting A Recovery: Bullish Base Forms After $115,000 Drop first appeared on Investorempires.com.
