Can Bitcoin Price Hit ATH Amid This Soaring BTC Institutional Interest
The post Can Bitcoin Price Hit ATH Amid This Soaring BTC Institutional Interest appeared on BitcoinEthereumNews.com. Key Insights: Bitcoin price is holding above $106,500, a long-term support confirmed by multiple rebounds since March. Analysts identify $110,545 as the breakout level needed for BTC to enter a new price discovery phase. Monthly support zones at $102,464 and $104,685 create a foundation for a possible rally to fresh highs. Bitcoin price formation has persisted to consolidate at high levels above important technical and on-chain support areas, as several signals suggest continuation of a long-term bullish trend. With the leading crypto topping over $108,000, analysts say that the mid-term picture is becoming defined by the institutional purchases and the rotation of holders. Recent positive impulse has placed BTC near the $111,000 mark, which begs the question whether a new peak is in the offing not long from now. The last breakout above historical resistances put Bitcoin price in position to start a second round of discovery phase. Bitcoin Price Prediction: Reaccumulation Range and Technical Supports According to technical analyst Rekt Capital, Bitcoin price has maintained its position above the $104,400 Range High. This level previously acted as resistance in the ReAccumulation range. Over the past seven weeks, BTC price has retested this zone multiple times, suggesting that it has now turned into a structural support. Weekly and monthly chart data also confirm the presence of confluence zones around $102,464, $104,685, and $107,244. These higher-timeframe supports are now considered essential in sustaining the asset’s potential second price discovery uptrend. Source: Rekt Capital, X On the monthly chart, Bitcoin price recently closed above the $102,464 Range High and followed it with a clean retest, leading to July’s upside candle formation. The ability of BTC price to hold this zone has now attracted renewed trader confidence. Analysts believe that maintaining support across this stacked region could serve as a foundation for a…
The post Can Bitcoin Price Hit ATH Amid This Soaring BTC Institutional Interest appeared on BitcoinEthereumNews.com.
Key Insights: Bitcoin price is holding above $106,500, a long-term support confirmed by multiple rebounds since March. Analysts identify $110,545 as the breakout level needed for BTC to enter a new price discovery phase. Monthly support zones at $102,464 and $104,685 create a foundation for a possible rally to fresh highs. Bitcoin price formation has persisted to consolidate at high levels above important technical and on-chain support areas, as several signals suggest continuation of a long-term bullish trend. With the leading crypto topping over $108,000, analysts say that the mid-term picture is becoming defined by the institutional purchases and the rotation of holders. Recent positive impulse has placed BTC near the $111,000 mark, which begs the question whether a new peak is in the offing not long from now. The last breakout above historical resistances put Bitcoin price in position to start a second round of discovery phase. Bitcoin Price Prediction: Reaccumulation Range and Technical Supports According to technical analyst Rekt Capital, Bitcoin price has maintained its position above the $104,400 Range High. This level previously acted as resistance in the ReAccumulation range. Over the past seven weeks, BTC price has retested this zone multiple times, suggesting that it has now turned into a structural support. Weekly and monthly chart data also confirm the presence of confluence zones around $102,464, $104,685, and $107,244. These higher-timeframe supports are now considered essential in sustaining the asset’s potential second price discovery uptrend. Source: Rekt Capital, X On the monthly chart, Bitcoin price recently closed above the $102,464 Range High and followed it with a clean retest, leading to July’s upside candle formation. The ability of BTC price to hold this zone has now attracted renewed trader confidence. Analysts believe that maintaining support across this stacked region could serve as a foundation for a…
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