Crypto Bull Run is sound despite the weekend fluctuations in Bitcoin

Bitcoin has seen a classic weekend pump and discharge, where the price is now sitting at a critical support level. Despite the decrease, the market structure is still optimistic and prepares for another break.

Bitcoin (BTCThe week was opened with a sharp decline after a non -sustainable evening crowd higher prices. The impulsive selling process has returned to the asset to the decisive support zone, however the broader image is still optimistic.

Bitcoin continues to circulate within a well -defined upscale, and the current correction is to re -test the key levels that can serve as a launching platform to return to the next stage. If this region continues, there is a strong situation to push bitcoin to new levels in the coming days.

Main technical points

• Bitcoin still respects its upward bullish channel, bears higher and higher levels.
• PRICE tests a support area at $ 102,790, 0.618 Fibonacci, VWAP and Low Channel.
• The bullish structure is still intact, despite the short -term volatility after the weekend rises.

The corrective step that has been seen over the past 24 hours is distinct for the fluctuations driven by the weekend, as the fine Sunday size can lead to exaggerated price fluctuations. Although the withdrawal may seem exciting on low time frames, he delivered bitcoin to an important technical area with multiple levels of convergence. This makes the current area not just a level of support, but a potential accumulation area.

More importantly, the bullish market structure is still bullied. Bitcoin continues to form its highest levels and highest levels, and the emerging trading channel has held firm through the recent decline. This support zone contract can create the foundation for the next ups. Technically, it is a highly capable area for long settings, provided that the price is combined and begins to form a base on the plans during the day.

Hence, Bitcoin should settle on this convergence of support and creation of the bottom formation, which is a typical introduction to renewed momentum. If it succeeds, this will open the door to move towards the upper border of the channel. This upper line, which has not been tested during the current step, remains a potential goal if the upscale momentum returns.

What can be expected in the next basic procedure

Bitcoin continues to get a bullish narration despite the last weekend fluctuations. If the current support levels remain intact, the price is likely to spin higher and another attempt at the highest levels ever this week. A brief period of monotheism at these levels can be calm before the following penetration.