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.
Bitcoin can lose thousands of dollars in a day and vice versa when its price rises. I can't be sure how long $107,000 will remain a strong support level, but if Bitcoin manages to break through its current key resistance, the strong support level will shift to higher than $107,000. Currently, $107k can be considered a strong support level amidst the uncertainty of the price movement direction, but anyone can be optimistic about the upward movement especially if they find important indicators both technically and fundamentally.
Honestly, I'm hoping for Bitcoin to rise this month and hit a new all-time high. However, Bitcoin can move in any direction, so there's no certainty even though there appears to be a small increase on the daily chart. Important resistance on the daily chart is at $113k and $117k. If this resistance is broken, a larger price movement can be expected.