The bitcoin price failed to re -break the $ 110K level on Sunday. Two important factors are restricted to the next bull rally, overbott RSI levels and sink the whale volume.
Bitcoin rally stops below $ 110,000 as Bulls Retreat
The price of bitcoin rose to $ 109,400 on Sunday before pulling back to $ 108,000 on Sunday, below the significant $ 110,000 resistance level. Despite the weekend’s lulla, BTC continued to print high climbing, later confirmed the rapid consolidation $ 106,100 All-Time High Breaking High On May 20.
The coingecko data confirms five consecutive daily closures above this limit, showing a rapid signal that most holders entering above the pre -peak are still not ready to exit.
At $ 108,200 in the press time, the bitcoin trades in a tight range, but remains structurally strong in mid -term.
Low weekend liquidity obstructs the ongoing rally of bitcoin. Bitcoin Price opened the Sunday session with up speed, killing $ 109,400 before rejected to $ 110,000 barrier.
The rally faded as a trading volume, with a total 24-hour volume to $ 26 billion, on Thursday about 70% less $ 75 billion spikes that pushed BTC to its global peak last week.
Whale transactions fall 57% because bitcoin bulls lose speed near $ 110K
According to data by CoingkoThe amount of bitcoin whale transactions has declined rapidly in the last 48 hours, increasing new concerns about trend tiredness near $ 110,000. On 22 May, the BTC Price touched a new all-time high at $ 110,624, with a whale volume to $ 112.6 billion, the most daily clan in the previous month.
However, the activity reversed quickly. On 23 May, the amount of large-value transactions fell to $ 88.5 billion, and by May 24, it moved forward to $ 48.15 billion. It marks a decline of 57.2% in just two days, closely chirping BTC Price Drop $ 110K to $ 108,200 at the time of publication.
This reflects signs of exhaustion between whales, especially after aggressive reverse between 20 and 22 May, when the volume rose from $ 73 billion to $ 112.6 billion, exceeding $ 105,780 to $ 105,780 to $ 111,80 to BTC.
BTC Price Failed attempt to violate $ 110,000 alignment with this drop in whale activity. It confirms heavy dependence on corporate demand from choice strategy (Microstrategy) and Metaplanet And Bitcoin ETFTo maintain the reverse speed.
If the whale’s participation keeps backward 30-day moving average volume ~ $ 74 billionBitcoin rebits risk $ 106,000, $ 107,000 Support area before another breakout attempt.
For the bull to get the control back, fresh flow from the big players is required. Otherwise, the market may remain a range-bound, waiting for a fresh catalyst.
Bitcoin Price Analysis: RSI calms down, but keeps $ 106K as a significant anchor
The close-term approach to bitcoin is carefully constructive, the price is stable above $ 106,000, a level is now acting as a firm support after last week’s rejection near $ 112,000. However, the technical speed is cold.
The relative power index (RSI) has pulled back from recent high levels near 74 to 63.39, suggesting that the market is no longer warm, but also indicates the loss of aggressive purchase speed.
This RSI level places BTC in the neutral-to-bullish region, which supports condensation sideways rather than immediate breakout.
The MACD histogram continues to level, while the MACD line is just above the signal line. This signal reduces the speed of rapid speed, although not yet a reversal. A rapid crossover may be upside down, but further weakness risk a flip in the deviation of the recession.
In severe, bitcoin $ 107,856 is above 5-day SMA and $ 106,216 is above 13-day SMA at $ 106,216, underlining the importance of $ 106k zone.
A daily closed $ 104,000 below this range, the sale of $ 105,000 bands can sell more, where pre -brakeout zone and EMAS -layered support from convergence.
The volume is modest at 14.03k BTC, and the traders will be looking at the return of strong flow before betting on another rally above $ 110,00 area.
Frequently asked questions (FAQs)
The bitcoin value forecast today suggests a vigilant rapid tendency if supporting $ 106K hold and supports above $ 50B on the volume.
Bitcoin is facing resistance to $ 110K due to decline in weekend volume and declining whale activity, preventing upside down speed.
Yes, the RSI at 74 indicates that bitcoin is falling into an overbott position, which can lead to short -term consolidation or improvement.
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.
share: