The price of Bitcoin gives investors a strong rise signal by holding above critical support levels. Now everyone’s eye is $ 108,000. If this level is broken, the price of Bitcoin may rapidly rise to $ 115 thousand. So, how can this scenario happen?
Bitcoin holds strong support
Bitcoin’s price movement is still progressing in the rise trend. In recent months, the medium -term trend line has managed to stop price decreases as a strong support point. This level re -strengthened the purchasing requests by increasing investor confidence.
Following the last support test, Bitcoin rose to 108 thousand dollars. However, this region draws attention as a point of resistance with intensive sales pressure. Currently, the price is stuck between 108 thousand dollars with its trend line. If recipients get stronger enough, a breaking above this level may initiate a large rally.
What will be the direction of Bitcoin in the short term?
When examined in a shorter period of time, Bitcoin is seen to rise with purchases from the support level of $ 90,000. After the liquidity hanging below 90 thousand dollars, the price rapidly reached 108 thousand dollars.
The price movement at this level shows that there is a great strife between buyers and sellers. If the level of 108 thousand dollars is exceeded and permanence is provided, Bitcoin may lead to new summits. However, if this level cannot be exceeded, there may be a possibility of withdrawal towards $ 98 thousand.
Market feeling and investor expectations
Despite the rise of Bitcoin, investors are still cautious. The funding rates that measure the general feeling of the market decreased as the price increased. This shows that investors are not fully convinced that Bitcoin will make new summits. If the funding rates increase and the procurement pressure increases throughout the market, it will be easier to exceed 108 thousand dollars. However, if the demand is insufficient, Bitcoin seems to be stuck at this level or experience a short -term withdrawal.
In which direction Bitcoin will move in the coming days will depend on liquidity flow and investor behavior in the market. In order to continue the rise, critical levels need to be followed.
