Bitcoin is once again at a significant twist after retrieving major levels above a mark of $ 105,000. In the weekend, BTC experienced extreme instability from the US Army strike on Iran’s nuclear facilities, causing nervousness in the global markets. However, a ceasefire declaration between Israel and Iran yesterday gave relief, which led to a fast recovery in the price of bitcoin.
This week is expected to be decisive in determining the short -term trajectory of bitcoin. While bulls have managed to gain control in the near period, uncertainty increases due to global stress and macroeconomic headwind. On-chant data from cryptoctive provides more information in current market dynamics. Since mid-April, the age of 0–1 months has increased by $ 66 billion.
Despite this sales pressure, the bitcoin is held within a narrow range, suggesting that the demand to absorb recent profits is strong enough. If the bulls can construct at the current speed, the bitcoin can set the platform for its next major step. Everyone’s eyes are now on whether BTC can move beyond $ 109k to retract all-time high.
Bitcoin consolves as the market absorbs the pressure to take advantage
Bitcoin recently faced intensive instability, falling to $ 98,000 before staging a sharp rebound above a $ 105,000 points. This recovery comes amid growing concerns about a potential double top formation, which has promoted the feeling of recession among the market participants. Despite this psychological pressure, on-chain data shows a flexible market structure that has no major warning signals of adjacent collapse.
According to top analyst Axler Adler, since April 13, the age of 0–1 was increased by $ 66 billion in the age of Kohrast. This reflects significant advantage of short -term holders entering the posts during the metric rally. About 720,000 BTCs have been sold during this period, which has increased the pressure of adequate supply in the market.
However, what is notable how bitcoin has succeeded in absorbing this sales volume without collapse. Prices remain largely within a narrow consolidation range, suggesting that buyers are stepping to match the outflow. Such accumulation often indicates strength under the surface, even when the price action appears uncertain.
The comprehensive market is now closely looking to see if the bitcoin can maintain a speed of $ 105k and push the $ 109k-$ 112K resistance to the resumption. Till then, the consolidation remains a major trend, possibly a calm before the next major step.
BTC tests resistance after recovering $ 105K
Bitcoin’s 4-hour chart shows a strong rebound with a climb of $ 98,000, which is currently priced around $ 105,300. This step follows a rapid bounce in purchasing speed that pushed BTC above the main $ 103,600 support-resistance level. This level is combined with a decisive closer over the moving average of 50 and 100-term, the signals gave rapid interest.
The volume has also increased considerably during the latest bounce, which indicates the participation of the actual market and not only a small squeeze. However, BTC is now approaching a major confluence area between $ 105,500 and $ 106,000, where there is a growing average of 200-period and recently convergence in a horizontal resistance area. This limit has served as a rejection area several times in June, and the price action here will determine whether BTC can target $ 109,300 for next resistance.
The broad market structure remains neutral for slightly faster until the BTC breaks above $ 106k with strong volume. The high low bulls formed during bouncing $ 98k gives some confidence, but the confirmation will come only when the price is consolidated above the 200-MA and May push towards the high.
Specially displayed image from Dall-E, chart from tradingview
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