The latest bitcoin price seems to be Goes according to plan In an analysis shared by crypto analyst Tehthomas. The post, which was shared on the TradingView website, showed a possible way that the Bitcoin Prize could follow this period, which showed both rejection and resistance points. Now, with Bitcoin that has already cleared $ 117,000, it seems that the next phase of the analysis can play from here, and the crypto analyst is quite hooked.
What happens after the Bitcoin price touched $ 117,000?
In the analysis Thomas pointed out that Bitcoin price had successfully cleared out local heights and could take out Liquidity over the previous range. However, there was inefficiency that had been left after the previous feature that was accidentally filled with a temporary false.
After the market correction that saw the Bitcoin price go against $ 112,000, there is now a clearer structure that is formed. Right now, Bitcoin price goes toward the demand zones on the higher time frames, and this can push the price higher.
The analysis points out that the correction from the liquidity sweep pushed the Bitcoin price to test key balances, with one Hausse Happens since then. There is also an inverted daily gap that has already been tested several times at about $ 114,000, and with this level holding it shows that there is a lot of support here.
Another thing that Liquidity sweep Has shown is that the pressure side has now been cleared. This has led to a recovery of the market, and from here all movements in some direction will be more purposeful. But the price that rises higher from here seems to be the most likely road.
How high can BTC go?
About the structure described by the crypto analyst, the Bitcoin price can see another small correction from its current local peaks. When this is done, the next step is the creation of the balance that would help drive the price of digital asset higher.
The analyst explains that if the Bitcoin price holds up the inverted daily gap, then the next goal would set it over the $ 120,000 level, where the next resistance zone is located. However, a loss of this inverted gap and subsequent trend line support would be very Baisseish for the price. This would trigger another correction back against $ 111,000- $ 112,000 territory.
“Bitcoin has absorbed liquidity, filled inefficiency and inverted a daily gap that now holds as support,” explained Thomas. “Combined with the ongoing daily upset, this strengthens the haus -like prospects with a clear target against the USD 120,000 resistance zone.”
Featured image from dall.e, chart from tradingview.com
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