Bitcoin is preparing for a decisive step while tightening the price movement with a little less than the key resistance levels. The bulls push BTC up and confirm the continuation of the upscale stage, but the market is still cautious. While the artistic structure still prefers the upward trend, the uncertainty in the macroeconomic economy is a shadow over feelings. Inflation pressures, geopolitical tensions, and the tightening of global liquidity continues to get rid of investor confidence through risk assets, and encryption is not an exception.
In addition to mixed expectations, new data from Cryptoquant reveals that the average topical trading volume on the central stock exchanges has decreased to its lowest levels since October 2020. This indicates that the participants are sitting on the margin, with no sale of metal currencies or transferring them to a chain.
Currently, Bitcoin holds the main support and shows signs of strength. But without an increase in size or a clear catalyst, the next step – or explosive can be concealed. The coming days may prove a pivotal in determining whether BTC is exploding or hiking again.
Bitcoin is close to the market arches for decisive action
Bitcoin is now only 6 % of its highest level ever, which is $ 112,000, and all eyes on whether it can weigh the bulls through this final barrier. After gathering more than 50 % of its lowest levels in April, BTC entered a slightly lower unification phase – a preparation usually preceded collapse or reflection. The next step is likely to determine the tone of the rest of the market, as the momentum expands sharply or fades to deeper unification.
While technologies are still strong, the total economic opposite winds still weigh feelings. The increasing tensions between the United States and China, along with the bond returns constantly, have led to the risks of regularity that can leak into the encryption markets. Investors are still cautious, as many wait for clarity before adhering to new positions.
Senior analysts Axel Adler Participate in a basic vision From Cryptoquant data: The average immediate trading on central stock exchanges has decreased to its lowest level since October 2020. According to Edler, this indicates that the market participants are not selling strength, and they are not buying strongly. Metal currencies are tightly detained, with minimal movement on the chain or in immediate markets.
This “Hodl mode” indicates a long -term condemnation among investors, but also reflects uncertainty. The lack of immediate activity makes it difficult for prices to break down decisively without entering the new capital to the market. However, if Bitcoin from the heart of $ 112,000 to support, this may lead to an increase in the purchase based on momentum.
BTC is close to the main resistance
Bitcoin is trading at $ 10,200 after getting 1.33 % a day, and continues to recover from the support level of $ 103,600. The Daily Chart is steadily climbing BTC, restoring EMA for 34 days at 103,683 dollars, and holding well for SMAS for 50 days and 100 days, currently at 101,906 dollars and 93,053 dollars, respectively. This clean restoration of the main moving averages is a bullish technical sign, indicating that the momentum gradually turns in favor of the bulls.
The price is now approaching the resistance level of 109,300 dollars-the final barrier before re-testing the highest level near 112,000 dollars. This area has worked as a roof since late May and is now the main level of watching. The daily closure is likely above $ 109,300 to the outbreak of BTC to the price discovery area.
The size is still relatively low compared to previous offers, indicating that the step is more paid than demand for a fixed spot of aggressive purchase. However, the structure remains a constructive, with the formation of the highest low levels since early June.
As long as Bitcoin exceeds $ 103,600 and continues to push for resistance, the broader trend remains intact. However, rejection of $ 109,300 can return BTC to monotheism. The next few sessions will be decisive.
Distinctive image from Dall-E, the tradingView graph
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