Bitcoin Rally To $135K Still Possible Despite Consolidation

Main point:

Bitcoin (BTC) takes a break, but a positive sign is that the bulls did not give up much of the land. This indicates that the bulls are adhering to their locations because they expect to appeal ascending.

Funds that trade in the stock exchange in the United States record $ 799.4 million in flows on Wednesday, the tenth consecutive day of flows, according to Farside Investors Data. Investors have made more than $ 5.2 billion in the BTC investment funds since July 2.

Can you resume BTC Uptrend? What are the levels of goal and support to monitor it? Let’s analyze the plans to find out.

BTC prediction price

Buyers tried to resume moving up to Wednesday, but the long wet on the candlestick shows that the bears defended the level of $ 120,000.

Repeated failures of crossing above the level of $ 120,000 can begin a deeper decrease towards the SIA moving average for 20 days (113,528 dollars). If the price is bounced from the EMA for 20 days, the bulls will try again to pay the BTC/USDT pair over the resistance area of $ 120,000 to 123,218 dollars. If they succeed, the husband may be able to start the next station from the upward trend to 135,729 dollars and eventually to the target of $ 150,000.

Bears will have to reduce the price of $ 110,530 to seize control. The husband may decrease to $ 105,000.

Related to: Is Fomo’s return? Bitco First Timers Buy 140K BTC in two weeks

20-ema, and the RSI are slightly higher than the center point on the graph for 4 hours, indicating the formation of a possible range in the short term. The husband can trade between $ 115,000 and 123,218 dollars for some time.

If the price decreases and less than $ 115,000 collapses, the husband may decrease to the neck line and then to solid support at $ 110,530. Buyers are expected to defend 110,530 dollars because the break below may tend the feature in the short term in favor of bears.

The first mark of strength on the upper side will be a break of more than $ 120,064. The husband may then return the highest level ever at $ 123,218.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.