After a massive breakout, the Bitcoin Bulls shows some prices that attract around $ 103,000. The price is stuck within a range, indicating toward the beginning of another stage of accumulation. However, the question remains whether this phase will ease as soon as possible or prevail for a long time, and if it eases, will the price be able to compromise a breakout or face a decline?
The price of bitcoin is combined -together above $ 100k, which shines a major bullish signal with hopes of reaching new highs. The token is usually combined -before undergoing a massive bullish action, and therefore, the next upbringing is expected to mark new highs. Meanwhile, technicals have reached the levels at which the correction stage began in previous cycles. Therefore, the price of BTC is also feared to deal with a similar consequence if it has a strike at the levels below the threshold.
The price of BTC is an inch near reaching the final threshold before testing ATH. However, a close view of the technicals suggests a stage of correction can begin as soon as possible. The weekly RSI has reached levels of excessive thinking on the first time since the November breakout. The levels dropped further and remained stuck inside a downward racing to mark the bottoms. This does not mean that the price will face an instant pullback, as it will be held within the bullish range from December 2024 to February 2025 as the RSI is maintaining a downward trend.
Therefore, a new ATH for the price of Bitcoin is close, but it may not be higher than $ 112,000 to $ 115,000. On the other hand, the OBV again shows a difference -bearish variety after hitting the resistance. Because it has failed to surpass the past few events, a bearish validation may hinder rally development. Therefore, if the OBVs hit the above levels, the price of BTC can gain strength; Otherwise a horizontal integration can prevail for a long time.
