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Bitcoin (BTC) prices decreased by approximately 5 % over the past 48 hours, with increasing global tensions after an Israeli air strike in Iran on June 12. With the interrogation of financial markets with this news, bitcoin prices fell to less than $ 103,000 before suffering from a modest recovery to climb the price of $ 105,000.
It is worth noting that the best market analyst Ali Martinez has noticed that the first cryptocurrency should maintain a specific support line to avoid a large correction based on the active trading channel.
The 100,000 dollar support key to Bitcoin Bull Challenge
in X post On June 13, Ali Martinez participated in the technical analysis of the Bitcoin prices. The expert reveals that BTC has been elegantly maintained on the range in the range since 2024, amid the major prices and market corrections.
Over the past six months, Martinez’s analysis shows that Bitcoin has been largely circulated between 78,500 dollars and $ 110,000, which puts multiple support and vital support levels within this corridor. During this period, before marriage, the cryptocurrency restricted the famous upper border while the lower border bounces four times from the lower border.
After the latest Bitcoin and the tendency to turn to the upper market fluctuation, especially with the full war capabilities in the Middle East, Martinez warns that Bitcoin Bulls to maintain a price point above the level of $ 100,000, which represents the next main support level in the market.
The analyst explains that in line with the price of the price within a specific trading channel, a decisive closure is less than the price of $ 100,000 strongly increases the opportunities to return the price to the bottom border at 78,500 dollars. This position offers the value of the price of 25 % on the current BTC holdings.
On the other hand, maintaining procedures exceeding $ 100,000 maintains a sound rise and increases the possibility of re -testing the resistance area of ​​$ 110,000, perhaps in the hope of decisive price outbreaks beyond the trading channel.
However, the collapse of less than $ 100,000 will not necessarily lead to an immediate correction to $ 78,500. It is worth noting that Martinez’s analysis reveals that support levels at $ 92,000 and $ 86,000 can provide bitcoin bulls a great opportunity to reaffirm the market control.
BTC price overview
At the time of writing this report, Bitcoin is trading $ 105.194 after a decrease of 1.79 % over the past 24 hours. Meanwhile, the daily trading volume of assets increased by 37.04 %, indicating an increase in market transactions and general trading activity.
With the rise of the market of $ 2.07 trillion, Bitcoin remains a leader in the encryption market with impressive dominance of 62.75 %.
Related reading: Bitcoin after ABCD? The analyst sees the path to $ 137,000
Distinctive image from Istock, Chart from TradingView.com