Bitcoin continues to be consolidated at the level of 100,000 dollars, while the probability of the price will be increasing. Technical indicators and over -chain data indicate that the rise trend can continue.
Bitcoin’s status in daily graphics
Bitcoin’s daily graph shows that the price is stuck in the range of 100 thousand to $ 108 thousand. BTC can be expected to make a movement towards 108 thousand dollars with reaction purchases from 100 thousand dollars.
The fact that RSI is over 50 %of the technical indicators shows that the market is still in favor of the Taurus. This supports the rise scenario in the short term.
4 -hour graphic rise scenario
Short -term 4 -hour graphics shows that Bitcoin moves in a bull flag formation. If the price breaks the upper band of this formation, it may be possible to increase over $ 108 thousand and even target $ 115 thousand.
The last recovery movement shows that a strong support is received from the $ 100,000 level. If this formation breaks upwards, Bitcoin is expected to gain a strong rise acceleration.
Super -chain data: BTC reserve in stock exchanges decreases
The top -of -chain data show that Bitcoin’s bull run in the last year is supported by the reduction of BTC supply on the stock markets. Bitcoin, which was traded at the level of 70 thousand dollars at the beginning of 2024, started to rise with investors withdrawing their assets from the exchanges.
This declining supply supported the rise trend by increasing the demand in the market. If a similar situation persists in the coming months, the price of Bitcoin is likely to increase to higher levels.
Critical levels should be followed in Bitcoin
BTC is expected to move to 108 thousand dollars, maintaining 100 thousand dollars support in the coming period. If this resistance is broken, a new wave of rise may be seen up to 115 thousand dollars.
However, if the sales pressure increases, the re -testing of 100 thousand dollars support may be on the agenda. If this level is lost, Bitcoin’s deeper correction process and testing the sub -support levels are among the possible scenarios.
