Bitcoin recently popped up to $ 93,540 to restore optimistic momentum. While maintaining the regional support trend line, the BTC price is likely to pop up at $ 100,000.
Currently, Bitcoin is traded with a market value of $ 96,191, suggesting potential Morning Star patterns. Will this reversal pattern return the BTC price to $ 106,000? Let’s find out.
The BTC price aims to go up triangle brake out
In the daily chart, the BTC price trend shows a weak reversal at the $ 106,000 resistance level. This downfall re -examines the short -term support trend line to create a triangular triangle pattern.
Ascending triangle patterns are generally considered strong and often lead to escape rally. The reversal of the current support trend line suggests the potential re -examination of the overhead ceiling near $ 106,000.
But before this important ceiling, Bitcoin faced an important resistance of nearly $ 100,000. As a psychological marker, the $ 100,000 level has provided multiple support and reversal points over the last few weeks.
Currently, 0.61%of recovery in Bitcoin is a hint on an optimistic candle for three days. This suggests a potential morning star pattern near the support trend line.
BTC price target
Morning star patterns are generally considered as anti -war patterns, adding trust to strong reversal when formed near important areas of interest. The MACD indicator, which supports the opportunity upside down, shows the MACD and signal lines just before optimistic crossover.
If the BTC increases the 50% prognosis level, this important resistance is $ 98,499. In addition, Bitcoin will rally smoothly by recovering $ 100,000.
For triangular brake out rally, the FIBONACCI level is $ 110,000 and $ 115,000 for BTC price targets. On the other hand, the important support levels under the support trend are $ 94,277 and $ 90,000.
Analysts predict Bitcoin’s powerful comeback.
Analysts who support the possibility of optimistic reversal are anticipating Bitcoin comeback. ALI Martinez, an encryption analyst, emphasizes that BTC long -term holders are in rejection stages based on long -term holders MUPL data.
Historically, the rejection stage implied potential market intensity before major market shifts. In addition, the probability -free RSI indicator has entered the overbeage area on the weekly chart. According to the Titan of encryption, the probability -loan RSI that enters a large hold area also indicates the reaction accumulation step of Bitcoin.
As Bitcoin enters the mountain area, there is a powerful hint in potential bounce bags.