The historic price increase of more than $ 100,000 in the past week has been turbulent for Bitcoin (BTC) holders after a low flash crash of $ 92,000 with a flash crash of nearly 7 %. It has been proven.
Fortunately, BTC discovered stability and gradually returned to the $ 100,000 zone. In this price recovery, some market indicators guarantee bitcoin’s robust and bullish investors.
It has nothing to do with the long -term price of bitcoin, but the integration is approaching.
In the Quicktake post of Cryptoquant, the analyst for the username Percival shared the specific market insights on Bitcoin’s future movement following recent market losses.
According to Percival, many traders expected BTC to reach $ 100,000 as an important goal. However, the 100,000 -dollar market volatility seemed “very hot”, and the funding rate has reached a temporary peak, especially before the decrease to 15 %.
In this confusion, the long trader has opened a very large position for a powerful resistance level of $ 100,000 supported by the liquidity of the high sale side. A sudden crash below 93,000 in bitcoin triggers a large -scale liquidation of these long positions and lost $ 277 million.
Following this bearish event, Percibal pointed out that the BTC market is 28, and indicates the need for weak bullish momentum and price integration. However, in the monthly time frame, BTC continues to be a powerful position to maintain a bullish tendency, but it takes time to charge.
When backing up these predictions, analysts also refer to the CHOPPINESS Index (CI), a trading tool that measures whether the market is trendy or integrated. The low CI found in the bitcoin market suggests integration.
Interestingly, Persivar states that 2020/20/2021 has experienced the integration stage for about 20 days, and all prices since March 2024 are within the same period. However, analysts focus on this potential integration aggressiveness, stating that the larger the integration, the greater the rise.
Bitcoin STH shows the target of $ 120,000.
Regarding the future price goals of Bitcoin after integration, Percibal explains that short -term holders are currently indicating major resistance levels in the future. The first one at these levels is a price area of $ 110,000, representing a resistance close to the +1.5 standard deviation that exceeds the realized price, and is a zone for many traders to benefit.
If it turns out that the bullish pressure is sufficient, the BTC is expected to increase to $ 120,000, showing a psychological strong resistance level, and may be necessary to consider it for breakouts.
At the time of writing, Bitcoin has been trading for $ 100,090 after continuing to increase by 3.02 % in the past day.
Featured image of CNN, Chart from, TradingView