Five days ago, bitcoin was unable to fall below $107430. Four days ago, bitcoin did not fall below $107300. Two days ago, bitcoin support stayed at $107200.
Now it is showing like bitcoin price may increase and not fall less than $107000. What do yu think about this? Will bitcoin price increase or not?
Bitcoin price right now is $110400.
Why Bitcoin did not fall below $107200 is because it was a previous resistance that is supposed to turn into support (Rule: Resistant break is turn to support RBS) after we broke that level of resistance and hit $124,000 last month . From technical point of view, if Bitcoin breaks or dips below 107200, It will be considered that the trend has taken a new direction, the bulls are supposed to hold tight that level