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 is currently trading at $107k, after previously testing supply at $113k. As usual, if it fails to break through, Bitcoin will likely experience another decline to try to break out at $107k. If successful, the next support point will be at $105k. This is quite dangerous because if the price successfully breaks out with a candle body at $105k, there is a high possibility that Bitcoin's price will chase $100k. It can be concluded that at that point, we will have entered a bear market phase.