The price of Bitcoin remains bullish above $106,000 despite short-term rollbacks, demonstrating resilience near the main support amid geopolitical tensions.
The continued rise in global liquidity fuels the overall bullish trend of Bitcoin, as a historical increase in liquidity of 1% has led to price increases of over 20%. Technical indicators suggest mixed momentum as Bitcoin consolidates within a volatile range between 94,000 Dollar and 112,000 Dollar, with buyers defending key areas. Bitcoin faced a technical rollback after reaching $110,545, as it failed to hold above the key resistance level. Michael van de Poppe highlights in his analysis the market's inability to break through the $110,000 area. This led to a market correction amid rising geopolitical tensions between the United States and Iran. Gold prices rose amid uncertainty, reinforcing the trend towards risk aversion. Despite the short-term decline, the price of Bitcoin remains optimistic above the $106,000 level. The current support area between $106,329 and $106,666 shows active demand, indicating the possibility of a recovery if it holds.
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The price of Bitcoin remains bullish above $106,000 despite short-term rollbacks, demonstrating resilience near the main support amid geopolitical tensions.
The continued rise in global liquidity fuels the overall bullish trend of Bitcoin, as a historical increase in liquidity of 1% has led to price increases of over 20%.
Technical indicators suggest mixed momentum as Bitcoin consolidates within a volatile range between 94,000 Dollar and 112,000 Dollar, with buyers defending key areas.
Bitcoin faced a technical rollback after reaching $110,545, as it failed to hold above the key resistance level. Michael van de Poppe highlights in his analysis the market's inability to break through the $110,000 area. This led to a market correction amid rising geopolitical tensions between the United States and Iran. Gold prices rose amid uncertainty, reinforcing the trend towards risk aversion. Despite the short-term decline, the price of Bitcoin remains optimistic above the $106,000 level. The current support area between $106,329 and $106,666 shows active demand, indicating the possibility of a recovery if it holds.