Watch this Bitcoin price level as 100,000 US dollars again in sight

Bitcoin (BTCUSD) has increased to the highest point in more than two months and has again put it within reach of the psychological level of $ 100,000.

The digital asset gathered on Thursday after reports had appeared that the Morgan Stanley investment bank would like to add a Spot cryptocurrency trade to its E* trading platform at some point next year. Sentiment also received a thrust according to strategy (MSTR), the world's largest company owner of Bitcoin, she said that she is planning to acquire more Bitcoin through an equity offer of $ 21 billion.

Bitcoin has risen by about 30% of its early April, since investors have tried to diversify their portfolios, which diversify uncertainty in relation to the Trump government's trade policy and its potential effects on the economy with regard to the economy with regard to the Trump administration. In the middle of the latest market turbulence, Bitcoin and stocks, occasionally moved in opposite directions, evidence of some investors that cryptocurrency finally shows its value as a safe haven.

The Legacy Cryptocurrency has recently been 97,000 US dollars, still below its record high of around 109,000 US dollars in January, compared to the lowest value of the last month below 75,000 US dollars.

In the following we take a closer look at Bitcoin's diagram and apply technical analyzes to determine important price levels that are worth observing.

Pennant pattern breakout

After Bitcoin's price had broken out from the AA -departing channel last month, Bitcoin's price was strong before consolidating in a narrow pennant.

In a victory for the bulls, the Pioneer Cryptocurrency carried out an outbreak over the top trend line of the Pennant on Thursday and set the stage higher for a sequel. In addition, the relative strength index confirms the Bullish Prize -Pur, whereby the indicator is pushed to overbought area.

However, it should be pointed out that the trading volume remain below average during the latest Bitcoin prices, which indicates that larger market participants may remain marginally.

Let us identify two important overhead areas in Bitcoin diagram, which investors may observe and find the most important support levels that are worthwhile to claim in the eye for future withdrawals.

To observe decisive overhead areas

The first overhead area that can be seen is 100,000 US dollars. This crucial place would probably offer a resistance near the round number and a horizontal line that connects a number of trading activities on the table between November and February.

In a bull -more step, Bitcoin's Price Test Overhead Resistance could see around 107,000 US dollars. Investors who have accumulated cryptocurrency at lower prices can decide to block the profits at this level near the prominent swing highs in December and January. This region also coincides with a projected beam pattern on the head, which is the impulsive train higher, which preceded the pennant and repositioned it from the outbreak point of the pattern.

Key support level value

In the event of backing, investors should first look the level of 92,000 US dollars. Retracement in this area can arouse the purchase interest near the deep of the pattern pattern, which also matches several tips and deeper on the diagram that extends until last November.

After all, a breakdown opens the door for a decrease of 85,000 US dollars under this most important technical level. In this area near February and a period of the sideways thread, investors can search for entry points last month on the table before the Bitcoin outbreak from the descending channel.

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Until the date on which this article was written, the author has none of the above securities.