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Bitcoin is wrestling with intense fluctuation after a sharp sale caused by US President Donald Trump’s sudden announcement by 50 % tariff All European Union imports start from June 1. The unexpected total economic step sent shock waves through assets, and Bitcoin was no exception, as it fell strongly The highest levels ever near 111,800 dollars To the lowest level of about 107,500 dollars in hours.
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Although there is a summary recovery of about 109,000 dollars, the procedure that followed from the price now shows an intense battle between bulls and bears, with technical analysis on the time frame of the candle for one hour showing the two methods that Bitcoin can play this week.
Bitcoin pressure structure between fair value gaps
According to Tehthomas, the current price of Bitcoin It is defined by two Oppieving fair value gaps for one hour (FVGS). The low FVG area set by the analyst is about $ 107,500, which appeared during the gathering about 111,814 dollars and is now working as the first task The reaction point after purchase.
The upper FVG range ranges between $ 109,800 and $ 110,700. This level, previously the base of the collapse candle, turned into a strong resistance on Friday. Interestingly, the rejection was confirmed within this upper FVG, which showed that there are many sellers in that region.
It is worth noting that the graph for one hour shared by the analyst indicates a scenario that died on the price of bitcoin. The gaps determined by the fair gaps that were identified or below will be determined by the direction of the next main bitcoin leg.
The next flowing Bitcoin step will come with confirmation of size, either with a bullish displacement above resistance or a declining rejection that drives bitcoin price to the goal of the demand lower.
Bitcoin’s budget and duplicate scenarios
It is interesting, since the analysis, The basic procedure that followed It was characterized by Bitcoin’s failure to restore the upper FVG and more than uniformity around the low FVG at $ 107500. This puts more important about this level, as Bitcoin’s reaction here can cause a recovery up or a significant decline in prices.
For the bullish scenario, The bounce in the lower FVG sends the price of bitcoin towards the upper FVG. A sustainable step above the upper FVG indicates at $ 110,700 About $ 113,000 return to focus.
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For a declining scenario, especially with a clean loss of $ 10,7500, the path opens to move about 106,000 dollars. This level is in line with a liquidity gathering behind him from monotheism early last week. If the structure decreases to less than 106,000 dollars, sellers may take control of the short term.
At the time of writing this report, Bitcoin was trading at $ 107,017.
Distinctive image from Unsplash, tradingvief chart
The post Breakdown Towards $106,000 Or New ATH? first appeared on Investorempires.com.
