The cryptocurrency market was shaking this week again with a new correction in the price of Bitcoin (BTC)that backed up a 4.5% to US $ 103,000erasing the profits he had recovered after the fall of the previous Friday. The international situation – march by escalation in the conflict between Iran and Israel– generates uncertainty among investors, but some specialists argue that the main cryptocurrency is found in a key zone and that a Movement of great magnitude could be about to occur.
Bitcoin: Resistance that does not yield and support that endures
On Monday, Bitcoin tried consolidate the level of US $ 108,000 – 109,000a resistance that has already rejected the price in four occasions in less than a month.
For the analyst Daan Crypto Tradesthat roof is still the key barrier. “Without a clear rupture above, there are still no reasons to get excited,” he said. However, consider that BTC is preparing for a great movementsince it continues to oscillate within a narrow range between U $ S 100,000 YU $ S 110,000which sooner or later must be broken.
The specialist said that this break could occur during the next 1 to 2 weekswhich would imply a change in trend and a Strong movement in the direction of the rupturebe up to the loss.
Geopolitical crisis and repeated behavior
The conflict in the Middle East has not only diplomatic and military impact: it also affects markets. This explained it SjuulAltCryptogems analyst, who recalled that Bitcoin has reacted similarly during Unexpected geopolitical events or shocksknown in financial jargon as “Black Swan”.
“Since 2020, each event of this type has generated panic sales, falls of between 30% and 50%, and then accumulation by intelligent money. Over time, Bitcoin reaches new historical maximums again,” he explained.
Under this logic, the analyst projects that, once the war tensions dissipate, Bitcoin could climb towards a new historical maximum (ATH). That is, for those who wait patiently, current volatility can represent an entry opportunity.
And the support? It remains firm at US $ 104,000
Meanwhile, Rekt Capitalanother recognized analyst of the crypto ecosystem, remarked that Bitcoin has been testing its old rank maximum as support for six consecutive weeks, and that that level – the U $ s104,400– It remains a solid floor.
“While the weekly closure is maintained above that value, any fall below is only noise. BTC is in a position to start a second stage of price discovery,” he said.
The expert also stressed that the depth of the latest corrections has been less and less: 7.7%to 5.7%, and now 4.5%. That would indicate that the market is “absorbing” sales more solidly, which is usually a positive sign.
For Rekt Capital, the last stumbling block to overcome It is the resistance located around US $ 108,890. If the price manages to close a week above that level, that will be interpreted as a force sign that could shoot a new rise.
Source: Ambito
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