The recent Bitcoin withdrawal has established a strong resistance based on volume nearly $ 108,300, with support forming in the area from $ 106,700 to $ 107,000.
The correction accelerated with a significant price wave from $ 107,373 to $ 107,671 between 13: 06-13: 36, followed by a net reversal.
The technical analysis suggests that Bitcoin is now negotiated in a compression zone, trapped between two major gaps in the fair value that will determine the management of the upcoming market.
If the bulls recover the zone from $ 109,000 to $ 110,000, the price could push towards a resistance beyond $ 112,000, while a rupture less than $ 107,000 could test the liquidity around $ 106,000.
Distribution of technical analysis
- The decline accelerated during the 22: 00-23: 00 hours on May 24 with an exceptionally high volume (16,335 BTC), establishing a high resistance based on a volume nearly $ 108,300.
- The support was formed in the $ 106,700 zone at $ 107,000 where buyers emerged during the period from 09: 00 to 10: 00 on May 25, although recovery attempts were modest with consolidating prices around $ 107,500.
- The overall technical structure suggests a short -term downward trend with an additional potential for consolidation before the directional clarity emerges.
- Bitcoin experienced significant volatility with a significant price increase from $ 107,373 to $ 107,671 between 13: 06-13: 36, followed by a net reversal which saw the prices decrease to $ 107,393 to 2:00 p.m.
- The largest price movement occurred during the 13:35 -minute candle where BTC jumped almost $ 150 with an exceptionally high volume (148.76 BTC), establishing temporary resistance around $ 107,630.
- The support was formed nearly $ 107,400 where buyers emerged in the last minutes of the period, although the overall technical structure suggests continuous consolidation in the wider correction compared to the summit of $ 109,239.
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