Yesterday, Bitcoin reached $104,000, but then pulled back. Traders are closely watching key levels that could determine further price movement.
Bitcoin price increases are often associated with big news headlines. The cryptocurrency market is sensitive to publications on social media and newspapers. Anticipation of trade deals between the US and the UK, as well as between the EU and China, could have a significant impact on investor sentiment and, as a result, on the price of Bitcoin.
Analysts note that Bitcoin has broken through the important Fibonacci level of 1.618. The price is at the maximum of the volume area (VAH) and a weak trend line resistance. This Fibonacci level is considered key for further price movement.
The concentration of liquidations below the $100,000 mark indicates that this level could be significant for volatility or price change. The bulk of the liquidations occurred after Bitcoin returned to six figures. The liquidation zone of the decline may be key to future price movements.
It is important to remember that investing in cryptocurrencies is risky. It is recommended to conduct thorough research and, if necessary, consult a financial advisor before making any investment decisions.
