The main dishes to remember:
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The Bitcoin price is consolidated about $ 105,000 as liquidity activated above the cash price.
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A support / resistance flip at $ 106.00 is a must for bulls because $ 100,000 remains a key level.
Bitcoin fell alongside the wider cryptography market during the negotiation hours of the end of New York on Tuesday, going up to 4% to $ 103,400 after the comments of US President Donald Trump on the Iran-Israeli conflict.
After relying on the liquidity of around $ 103,000, the merchants said that a correction in areas of less than $ 100,000 was unlikely because the liquidity activated above $ 106,000.
Bitcoin price key support remains $ 100,000
The Bitcoin price has successfully maintained above the psychological level of $ 100,000 since it recovered it on May 8. This remained a critical level on traders’ radars and did not receive a recently convincing retest.
In relation: The risk of dropping bitcoin dwells, rests upwards on the maintenance of $ 102,000
The founder of MN Capital, Michael Van de Poppe, spotted Bitcoin hovering at $ 104,400, saying that after being rejected from the level of $ 106,000, BTC could drop to take the liquidity between $ 100,000 and $ 103,000.
An accompanying table shows $ 100,000 like the key level to look at the four -hour BTC period. The loss of this level would see traders looking for input stations below $ 100,000.
Van de Poppe added:
“The second region is less than $ 100,000, which I find less likely.”
Crowning pseudonym analyst shared a graph showing that Bitcoin “looks good” because he holds more than $ 100,000 after having succeeded on June 6.
“All we need is this level of support to keep and switch $ 106,000 in the support to increase the price,” said the merchant.
As Cointelegraph reported, the level of $ 100,000 is an important psychological border with implications for feeling if it does not hold.
Liquidation clusters spread over $ 106,000
Several traders are looking at a potential increase in liquidity with orders for grouping requests over $ 106,000.
The latest data from Resource Coininglass surveillance have shown that ignition feed prices are offers of around $ 105,000, with a grouping of punctuals between cash and $ 109,000.
The above graph shows that demand orders worth $ 70 million increased about $ 106,500, the $ 109,000 cluster to $ 110,000 being another potentially significant liquidity area.
If the level of $ 106,000 is broken, it could trigger a compression of liquidation, forcing the sellers open to ending the positions and leading prices to $ 110,000, which is the next major liquidity group.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
