Watch these levels of bitcoin prices because the cryptocurrency regains the level of 100,000 USD

Bitcoin (Btcusd) will remain in the spotlight on Friday after the growth above He carefully watched $ 100,000 on Thursday For the first time since the beginning of February.

The hereditary cryptocurrency gathered along with wrestling After President Donald Trump announced that The US has reached a trade agreement with Great Britain. The president also said that further contracts may be on the way and He expressed optimism about commercial conversations with China which are to take place this weekend.

The price of bitcoin has fallen rapidly between February and April, burdened Uncertainty about tariffs and their potential impact on the economy, as well as disappointment at the pace of reforms of the Trump administration in order to support the cryptocurrency industry. Thanks to the latest growth, Bitcoin is almost 40% above the low month and 10% from the beginning of the year.

Bitcoin traded for USD 102,200 late Thursday evening, compared to the lowest level of around USD 96,000.

Below, We Take a Closer Look at Bitcoin’s Chart and Apply Technical analysis To identify key price levels to be careful.

Record high in sight

After recovery 200-day movable average (MA) Last month, Bitcoin traded in a narrow consolidation period before today’s strong Breakout Above the most important level of USD 100,000. This movement prepares a scene for a potential re -test of cryptocurrency Record High Established at USD 109,000 at the end of January.

Meanwhile Relative strength indicator Confirms the stubborn price rush with reading above threshold 70, although the indicator also warns Completed Conditions that can lead to short -term profit.

It is important to notice it Volume for coins (COIN), the largest Cryptographic exchange In the United States, they have fallen since the Bitcoin movement began at the beginning of April, which indicates that larger market participants can sit on the current rally.

Let’s identify two key general areas on the Bitcoin chart, which is worth watching while locating the key support levels for monitoring.

General areas worth watching

The first area to be viewed is around $ 107,000. This location will probably attract significant attention near the outstanding December and January peaks It meant double top Pattern on the chart.

Investors may forecast that the erratic area will be observed above cryptocurrency records using strip pattern analysis.

To apply this technique, we take price bars covering the Bitcoin movement, which preceded the last period of consolidation and changed them from today’s breakthrough. The analysis provides for potential plus A target of approximately USD 120,000, assuming continuation Move, it takes place.

Key support levels for monitoring

The short -term acceptance of profits can cause the cryptocurrency price to return to USD 100,000. After today’s breakthrough over this key psychological The area, the region may tilt from earlier resistance in future support.

However, the inability of bulls to effectively defend this level can cause more significant Rescue Bitcoin price up to USD 92,000. This region finds fugitive The support of the nearby 200-day inclination has a trend line, which connects a number of appropriate trade activities on the chart, which dates back to the end of November last year.

Comments, opinions and analyzes expressed on Investopedia only serve information purposes. Read ours Reservation of the warranty and responsibility For more information.

This article has been written from the date, the author has no one of the above securities.