Main takeout:
The emergence of bear flags in the four -hour chart is expected to drop to $ 97,000 in bitcoin.
The traders say that if the major support levels are destroyed, including the psychological level of $ 100,000 and the annual opening of about $ 92,000 per year, the BTC price can fall to $ 85,000.
Bitcoin (BTC) prices are afraid that the failure can fall to $ 97,000 by forming a classic weakness pattern in a low time frame.
Brake out points to $ 97K goal
Bitcoin’s price behavior has formed a textbook Bear Flag pattern on a four -hour chart, which is a weak continuous setting formed when the price is integrated upward in the parallel channel after a sharp downward movement.
In the case of Bitcoin, the flag began to form after the BTC floated for almost $ 103,100 on May 31. Integration lasted during the weekend, and the price continued to resume the support line of the flag.
Subsequently, the price is confirmed if the price drops to $ 104,800 below the lower limit of the flag. The anticipated disadvantage of the pattern is now situated near $ 97,690, adding the height of the initial flagpole to the brake out point.
Momentum indicators, including the relative robbery index (RSI), also suggest that RSI is currently 44 years old and market conditions still prefer disadvantages.
Look at the price level of this Bitcoin in June -Translator
According to data from Cointelegraph Markets Pro and TradingView, BTC/USD pairs have been reduced by 6.3% from $ 111,000 at a high maximum at record high.
The price of the BTC was 11% higher in May, but traders have questioned how the price can go. One month in June, he historically produced a mix of mixes with an average loss of 0.3%.
For the crypto analyst DAAN CRYPTO Trades, the mid range is $ 99,600 and the previous record is an important level in the first week of June.
“I think it’s likely that it’s a movement that can disappear when the first week is the first sign of the local reversal,” Trader told X on June 1.
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According to the accompanying chart, the break of $ 108,000 or more has shown that the BTC/USD pairs can rise to $ 111,900 to a record high, which can meet strong resistance and fall to the range.
Similarly, relaxation of less than $ 99,600 will be lowered before you find comfort at $ 97,600 at a simple 200 -day moving average.
“There is no strong prejudice about any direction here, so I will just remain agile and play with what I get.”
On June 2, X’s Alphabtc said, “BTC seems to have started greater corrections.”
According to the analyst, the collapse of the bare flag for four hours could have fallen to the $ 102,000 demand area of Bitcoin. If you lose this support, more than $ 92,000 will enter the photo every year.
“What will happen at about 92K?” Alphabtc added that if you provide purchasing opportunities, BTC can rebound here and start recovery with price discovery.
On the contrary, if the tariff continues, the BTC can fall to $ 85,000, as shown in the chart below.
As reported by COINTELEGRAPH, Bitcoin Traders analyzes the weekly and monthly finishes about where the BTC price measures can lead to, and the psychological level remains an area of $ 100,000 and $ 97,000.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.