Thursday , Bitcoin He underwent a simple payment to the threshold of $ 87,000, as the entire encryption market gained traction after the main news and developments in the sector. After the short boom, the pioneer appears to lose steam. The BTC price may have decreased, but many analysts expect a bullish reflection towards new horizons.
Bitcoin notes are new goals
Bitcoin price began to decrease again after a simple recovery. The original faced strong resistance at 87,000 dollars, causing it quickly to be restored to Support range of $ 83,000.
Despite the loss of its upscale momentum, MAGS, the encryption analyst and their trading specific The indicators indicate a rise in the short term. Mags expects that BTC can be about to gather a large gathering, provided that it maintains stability in a decisive support zone.
According to the market expert, this support can be a starting point to attend the highest new level ever for BTC. The expert is the next gathering an opportunity For those who have missed the previous Bitcoin drops to $ 25,000 and $ 52,000.
Mags highlighted that Bitcoin’s performance in this bull run, and this level has highlighted 45 of the RSI, which represents the last two local bottoms, a strong support zone. Meanwhile, this level may also be a strong support against the last descent.
The initial test occurred when the main assets reached the lowest level of $ 25,000. However, a large gathering is followed by more than 193 %, raising the BTC value to the highest previous level of $ 73,100. In the second scenario, BTC was low 52,000. After that, it saw price increase by 107 % to its highest level ever at $ 109,400.
Nowadays, the assets witnessed its third test as it decreased to a decrease of $ 76,000. Thus, Mags believes that previous trends may be repeated, and fuel supply Leg to new higher levels In the coming weeks.
If it is 45 weekly RSI, and only returns to the falling trend line, the expert expects 64 % of the area. Looking at the graph, this step will bring BTC with a value of $ 128,000, which is in line with the extension level of 1.618 Fibonacci.
BTC market moves to great fear
with Transfer the market sideThe Bitcoin Fear and Greed index in the extremist fear area fell again, reflecting the anxiety among investors. This change indicates that merchants are growing more careful because Bitcoin failed to stick to decisive levels.
While it may seem worrying, vanity male This extreme fear has preceded a strong bounce in BTC every time it reaches the area. He also stated that the index last time fell to extreme fear when the bitcoin value reached $ 54,000 in September 2024.
Meanwhile, prices have increased by more than 102 % the last time. Looking at the index’s decrease to extreme fear, MAGS believes that BTC It can witness a short -term price reflection.
Distinctive image from Unsplash, Chart from TradingView.com
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