Bitcoin (BTC) Retreated from 111,810, Is the Market Taking a Breath? Critical Consolidation Process
Hello Crypto Community! 👋 Bitcoin (BTC) has been following a sideways trend for the last two or three days, having retreated somewhat from the 111,810 peak it reached a few days ago. This situation shows that the market is taking a breather and looking for direction. Current status and expectations: Bitcoin ($BTC) Current Status: * Price Action: Following the pullback from the $111,810 level, Bitcoin has been trading in a narrow band between $105,000 - $108,000 for the last few days. This sideways trend suggests that investors are positioning themselves before the next big move or that profit realizations are continuing. * Main Resistance Level: Our immediate resistance point stands out as the $108,000 - $109,000 band. A strong and persistent close above this level could push Bitcoin back towards the $111,810 peak and even start a new price discovery process. Breaking this region will bring fresh buying appetite to the market. * Main Support Level: In downward movements, the $104,500 - $105,000 band is a critical support point. In case this support is lost, the next strong support level could be the $100,000 psychological limit. Maintaining these levels is of great importance for the health of the current uptrend. Ethereum ($ETH) and Altcoins: * Ethereum ($ETH) is experiencing its own consolidation in parallel with this horizontal movement in Bitcoin. However, Ethereum Spot ETF expectations continue to keep ETH's long-term outlook positive. Important news in this process may drag ETH to sudden increases. * The altcoin market is generally in line with Bitcoin's consolidation. Most altcoins are trading within a certain range in BTC's horizontal movement. However, short-term opportunities may arise in altcoins that show special developments for projects or technically positive formations.
Market Expectations and Things to Consider:
* Volume Monitoring: Although volumes in a horizontal movement are low, an increase in volume at the moment of a breakout will be critical in terms of the strength of the movement.
* Profit Realizations: Whether the profit realizations following the last rise have ended or not will be decisive for the next direction of the market.
* Global Data: Important data on the global economic calendar (for example, inflation reports or interest rate decisions) may affect market sentiment.
This consolidation period may be a process in which the market gathers strength. However, as always, be careful against volatility. Do your own research (DYOR) and never neglect your risk management.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Bitcoin (BTC) Retreated from 111,810, Is the Market Taking a Breath? Critical Consolidation Process
Hello Crypto Community! 👋
Bitcoin (BTC) has been following a sideways trend for the last two or three days, having retreated somewhat from the 111,810 peak it reached a few days ago. This situation shows that the market is taking a breather and looking for direction. Current status and expectations:
Bitcoin ($BTC) Current Status:
* Price Action: Following the pullback from the $111,810 level, Bitcoin has been trading in a narrow band between $105,000 - $108,000 for the last few days. This sideways trend suggests that investors are positioning themselves before the next big move or that profit realizations are continuing.
* Main Resistance Level: Our immediate resistance point stands out as the $108,000 - $109,000 band. A strong and persistent close above this level could push Bitcoin back towards the $111,810 peak and even start a new price discovery process. Breaking this region will bring fresh buying appetite to the market.
* Main Support Level: In downward movements, the $104,500 - $105,000 band is a critical support point. In case this support is lost, the next strong support level could be the $100,000 psychological limit. Maintaining these levels is of great importance for the health of the current uptrend.
Ethereum ($ETH) and Altcoins:
* Ethereum ($ETH) is experiencing its own consolidation in parallel with this horizontal movement in Bitcoin. However, Ethereum Spot ETF expectations continue to keep ETH's long-term outlook positive. Important news in this process may drag ETH to sudden increases.
* The altcoin market is generally in line with Bitcoin's consolidation. Most altcoins are trading within a certain range in BTC's horizontal movement. However, short-term opportunities may arise in altcoins that show special developments for projects or technically positive formations.
Market Expectations and Things to Consider:
* Volume Monitoring: Although volumes in a horizontal movement are low, an increase in volume at the moment of a breakout will be critical in terms of the strength of the movement.
* Profit Realizations: Whether the profit realizations following the last rise have ended or not will be decisive for the next direction of the market.
* Global Data: Important data on the global economic calendar (for example, inflation reports or interest rate decisions) may affect market sentiment.
This consolidation period may be a process in which the market gathers strength. However, as always, be careful against volatility. Do your own research (DYOR) and never neglect your risk management.