NEWSLETTER
It was another week of volatile negotiation in the bitcoin market (btc) marked by almost equal amounts of profits. According to Coinmarketcap data, bitcoin moved between $ 95,000 and $ 98,000, forming a solid consolidation zone. However, the popular cryptographic analyst Burak Kesmeci affirms the critical levels for the main cryptocurrency are outside this price range.
bitcoin key levels to see – Support of $ 94,000 vs. $ 117,000 resistance
In a <a target="_blank" href="https://x.com/burak_kesmeci/status/1890446053620453661″ target=”_blank”>x publication On February 14, Burak Kesmeci shared an interesting technical analysis in the btc market that highlights two key areas that could decide the short -term price address.
One of these critical areas is the 1.6 gold ratio multiplier that is currently $ 117,000. The Golden Relationship Multiplier 1.6 is an assessment tool used to identify vital resistance areas in a bullish market. Therefore, Kesmeci postulates that if the bitcoin futures market closes above $ 117,000, spot merchants can anticipate that the Toro demonstration rediscovers its form that leads to an immediate upward trend.
The second price zone identified by Burak Kesmeci is the 111 -day mobile average (111dma), which is currently $ 94,000. The 111dma is an average indicator of commonly used moving prices that often acts as a key level of dynamic support during the execution of the bull.
Consequently, a weekly or daily price is closed below $ 94,000 in the futures market will invite a strong bearish pressure on bitcoin that translates into an immediate price drop. According to Kesmeci's application, bitcoin will probably soon leave its current consolidation zone to register any significant price movement.
The bullish factors that can support a price break include an increase in ETF inputs and corporate cryptographic interest, as well as substantial progress in the new pro-crypto agenda of the United States. On the other hand, investors must fear variables such as negative macroeconomic developments, for example, an increase in the Fed interest rate, especially considering the recent increase in the United States inflation.
btc exchange tickets reached $ 1 billion: Did immersion in the incoming price?
In other news, the Intotheblock analytical site <a target="_blank" href="https://x.com/intotheblock/status/1890476440581189805″ target=”_blank”>information The bitcoin market registered an entrance of more than $ 1.3 billion, which resulted in a net ticket of $ 1.04 billion. In general, massive exchange inputs are interpreted as a bearish signal since investors are probably moving their assets in preparation to sell in the exchange.
At the time of publication, the leading cryptocurrency continues to operate at $ 97,653, reflecting a 0.50% gain in the last 24 hours. However, its daily negotiation volume was blocked at 12.80% and is currently valued at $ 32.29 billion. With a market capitalization of $ 1.93 billion, btc continues to be classified as the largest digital asset.
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