The price of bitcoin was killed today at $ 111,800, as the major data shows the fast speed supported by large whale tricks and enthusiasts of Pizza Day.
Bitcoin pizza day optimism on bitcoin price rallies
Bitcoin (BTC) rose to $ 111,800 on Friday, which according to Koingco was setting a new all-time high for the second consecutive day.
This bullish speed comes amidst the surrounding enthusiasm Bitcoin pizza dayA historical event in Crypto was celebrated on 22 May. The symbolic nature of this phenomenon, added with the basic principles of the strong market, increased the purchase spirit.
At the time of writing on Friday, bitcoin is priced at $ 111,557, 1.6%in 24 hours, and green trending on all major long-term time frames, 30-day (19.3%) and 1-year (61.4%) are the biggest advantage on candles.
These benefits indicate deep structural power in the current BTC rally. Friday’s 1.8% increase confirms that the price of bitcoin has decisively broken its previous resistance levels, the demand of whale and provoked by the macro tailwinds.
Hint institutional pace behind the $ 76b whale transaction bitcoin rally
According to the blockchain analytics firm Intotheblock Via Sentora, Bitcoin grew dramatically, crossed $ 76 billion on 13 May, doubled from $ 37 billion from (10 May) about three days ago.
These large transactions track the real -time trading activity of institutional wallets that carry BTC $ 100,000 per transaction or more.
This activity matches with BTC breakout above $ 105,000, suggests that the whale accumulation price is accelerating the search. Historically, in large transactions such continuous volumes have major rapid legs in bitcoin cycles in spikes.
The trend is fuel from the expectations of low hopes of increasing institutional confidence in bitcoin American interest ratesAnd the story going on around BTC as a digital gold in a post-holoving era.
Positive quantity delta confirms comprehensive market participation
Beyond the whale activity, the volume delta, the net difference between buying and selling pressure is decisively flipped.
While the volume delta is unstable, the last six sessions showed pure positive demand on four occasions, which also included a strong 2,770 BTC bar on Thursday, indicating to buy a constant spot market. Binas,
It confirms that the rally is supported not only by institutional flow at the OTC desk but also by retail participants on exchanges.
BTC Price In just 10 days, from $ 94,000 to $ $ 111,430 increased, 18.5% profit, with daily candlestics, continued to close in the upper bowling band range.
Volume levels, while diverse, strong, and validated more comprehensive interest. The brakeout above the $ 103,500 mid-band now now serves as dynamic support.
The vertical upwards of the Bollinger band will be coupled with curvature and several closed outside the upper band, the market speed remains strong.
Analysts are increasing the target of $ 120,000 as the next resistance area, where psychological and technical confluences change.
Bitcoin Price Forecasting Today: Bollinger Band Extension Signal $ 120K target
The uptrend of bitcoin is intact as well as consolidating the speed above the upper bowling band, refused to retreat meaningfully with value action.
Recently, candles, despite the modest intraday rejection, continue to close in the upper third of their limits, which is an indicator of frequent purchases and strong demand that absorbs supply from profit booking from traders.
Since violating $ 103,000, a clear bollinger band has expanded, and the current instability structure shows no signal of exhaustion.
Supporting this fast posture, the midline of the Bollinger band now rests at $ 103,522, which serves as a dynamic axis point.
$ 112,942 will confirm a continuous rally above the upper band, especially if with increasing volume.
However, a pullback below $ 108,000 can trigger a short -term improvement towards $ 103,000 zone. If the whale accumulates during minor dips, it can strengthen the case for $ 120,000 within the next week.
Frequently asked questions (FAQs)
Bitcoin Pizza Day rapidly revived the spirit, attracted retail stimulation, while whales increased large transactions, recently promoted breakouts.
Yes, with Bollinger band expansion, whale demand, and strong volume delta, analysts saw $ 120,000 as the next major resistance area.
Whale transactions, more than $ 100,000 per step, often indicate strong institutional belief before the major price hike and in BTC.
Coyingop Staff
Coingape includes an experienced team of indigenous material writers and editors, who are working in a clock time to cover news globally and present news as a fact rather than an opinion. CoingPele writers and reporters contributed to this article.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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