The quotations of the major cryptocurrency have reached the $100 500-$100 800 resistance assumed in recent analyses. We are talking about the zone resulting from the upper limit of the 1:1 system (red rectangles) and the 61.8% ratio of the last downward wave. According to the Overbalance methodology, a rebound here could suggest a deepening of declines toward support at $96 500. This zone, in turn, is derived from the EMA100 average and previous price reactions. Should it be negated, declines could develop toward $92 000. On the other hand, if the aforementioned geometry at $100 500 is exceeded, increases could move toward $103 400, and then toward historical maxima at $107 000.
_a9f016c3be.png)
Bitcoin H4 interval. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appLooking at the lower time frame - M15, the upward sentiment is in force. For it to be negated, the price would have to fall below the currently tested support at $98 827. This place is due to the local 1:1 pattern (green rectangles) and the EMA100 average. However, as long as the support is defended, a retest of the local maxima is not excluded.
_28cd84cb9a.png)
Bitcoin interval M15. Source: xStation5
