Bitcoin has seen increasing fluctuations on Friday, and briefly dipped to a local level of about $ 114,700 before settling in the scope of tight unification. The price remains covered with a psychological mark of $ 120,000, as bulls and bears were imprisoned in tightening the rope that intensified speculation throughout the market. Despite the withdrawal, Bitcoin holds the main support, indicating flexibility in the current upper structure.
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According to the Cryptoquant Axel Adler analyst, this week is one of the most aggressive sales periods in the current bull cycle. Adler notes that only 12 weeks – 7.3 % of the entire cycle – showed equal or larger sale. This context highlights the intensity of the last market activity, with a large profit from investors, but there is no complete collapse in the price.
A mixture of strong sale and price stability may enter a high level of uncertainty. The market participants are closely monitoring to confirm a deeper correction or a renewed batch to break the 120,000 -dollar barrier. With the closure of the week, Bitcoin’s ability to maintain the scale of its uniformity and the direction of the next main step in this course can be determined.
Bitcoin holds strong in heavy sale
Adler High This week it occupies the first rank among 7 % of the most extreme of the sale volume during the current Bitcoin Bull. Despite the pressure of intense sale, Bitcoin showed remarkable flexibility, recovering to $ 117,000 by the end of the week. This recovery is seen as a positive signal, which reflects the upward strength in the face of aggressive distribution.
While Bitcoin remains in the range of tight monotheism, its dominance began to weak for Ethereum and other main altcoins. This shift has caught the attention of analysts who now view this week as a pivotal moment. The continuous decrease in the dominance of bitcoin associated with the increasing force in Altcoins can represent the long-awaited start of Altseass-a period of capital revolving from Bitcoin to alternative encrypted currencies, which leads to strong gains across this sector.
However, the recent recovery of Bitcoin and its unification above the main support indicates that its upscale momentum may end. If buyers continue to defend the current range, BTC may be preparing for another leg, which leads to pressure on short pants and market confidence.
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BTC re -test the resistance after strong recovery
Bitcoin (BTC) is currently trading about 117,867 dollars on the graph for 4 hours, after a sharp recovery from the support level of $ 115,724. This region has proven that the area of demand for the short -term, as the bulls entered strongly to defend it after a recent decline. The price is now compressed against 100 SMA periods ($ 117,822), trying to restore this level as support.
The BTC chart structure is locked in a well -defined unification range between $ 115,724 and 122.077 dollars. The continued re -testing of this week to the minimum borders and subsequent counterattacks from buyers, despite the power of strong sale earlier in the week. The size remains high, indicating the participation of the active market during the last recovery.
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The key to watching now is whether BTC can turn 100 SMA and hold more than $ 118,000. If confirmed, the next main test will be the upper domain resistance at 122,077 dollars. The clean interruption above this level may pave the way for the highest new levels ever.
Distinctive image from Dall-E, the tradingView graph
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