Bitcoin prices over recent trading sessions have shown fluctuations, maintaining a key support level at $100,000. Following recent declines, experts discuss potential for further growth.
Bitcoin Holds $100,000 as a Psychological Boundary
Bitcoin fell to $103,400 amid broader market movements triggered by comments from US President Donald Trump regarding the Iran-Israel conflict. However, traders note that the $100,000 level remains a significant support that Bitcoin has successfully maintained since May 8.
Watching Liquidity Above $106,000
Observations show that liquidity at the $106,000 level is increasing, with substantial buy orders accumulating above this mark. Data reveals significant amounts of orders are focused between $105,000 and $109,000, potentially leading to a liquidation of short positions.
Timeframe Analysis and Predictions from Analysts
According to MN Capital founder Michael van de Poppe, BTC may drop to the range between $100,000 and $103,000 or break the $106,000 level. Traders believe that if this level is breached, it could lead to price increases towards $110,000, the next major liquidity cluster.
With maintaining a minimum support at $100,000 and observing increasing liquidity above $106,000, Bitcoin displays potential opportunities for further growth. Traders continue to closely monitor key levels, which will dictate future market movements.
