Bitcoin restored bull control after he overcame a serious resistance of 95 thousand dollars. Nevertheless, all eyes are now on an impending psychological barrier of 100 thousand dollars, which can either be beneficial or act as a springboard towards new records for the whole time.
Technical analysis
Shayangmarkets
Daily diagram
The recent BTC breakthrough is higher than the decisive resistance of 95 thousand dollars marks a key technical and psychological victory for bulls. After a short period of consolidation around this level, the renewable pressure for the purchase increased the price, significantly higher, signaling the continuation of the bull tendency, which began after the correction phase at the beginning of this year.
This breakthrough is a noticeable bull development, since the level of $ 95 thousand. The United States previously limited the achievements of Bitcoin and leveled out with previous maximums. Nevertheless, at present, the main attention is shifted to the resistance zone for 100 thousand dollars, a round number, which has historically has significant psychological weight. Most likely, it will be filled with hidden orders for sale, production triggers and institutional distribution, all this can temporarily delay or cancel the impulse up.
If the bulls manage to decisively break this psychological barrier, this will most likely lead to a strong continuation rally, and the next logical target will be a record high level of bitcoin of 109 thousand dollars.
4-hour table
In the 4-hour date, Bitcoin initially stopped with a resistance of 95 thousand dollars. The United States, forming a lateral consolidation structure indicating the absorption of supplies. Nevertheless, this consolidation was short -lived, since the new demand flooded the market, which led to a pure breakthrough above 95 thousand dollars. USA, which confirms the dominance of customers and the validity of the previous breakthrough.
Despite the power of this step, a mark of 100 thousand dollars has now become the following main task. This level is not only consistent with psychological resistance, but also coincides with the previous high swing, increasing its technical significance.
If the BTC cannot overcome 100 thousand dollars. The United States on the first attempt, the intercourse of profit and a reasonable distribution of money can cause a refusal and the correct rollback to the support zone in the amount of 90 thousand dollars, where currently with an average movement of 100 and 200-day average values provide structural reinforcements.
An alternatively, a more likely short-term scenario is a consolidation stage below $ 100 thousand. The USA, which allows the market to accumulate an impulse before a potential breakthrough in the ATH direction of 109 thousand dollars.
Analysis on the chain
Shayan
Taker purchase/sales coefficient is a key indicator on the chain, which measures the ratio of orders for the purchase of a market for a market sale of orders on exchanges, such as Binance.
In the latest reading, the Taker purchase/sales coefficient increased sharply, reaching the highest level observed in recent months. This surge assumes that market participants are increasingly performing orders for the purchase of the market, reflecting the transition from passive accumulation to the aggressive entrance at market prices.
This behavior usually occurs when investors and traders are confident in the inevitable increase in prices or fear of missing a rally, classic signs of strong bull moods. Soon, the schedule of the ratio emphasizes Taker’s purchase volume, confirming that buyers are actively chasing the price, and do not expect lower records. This behavioral shift often precedes a strong increase in the impulse in the price action, especially in combination with an increase in an open interest and a positive price structure.
