Bitcoin -Price analysis: BTC risks dumps under $ 100k if this final support is bursting

The price of Bitcoin is about to break under another important level, after he did not won Herwin after her high a few weeks ago. Investors are now ensuring that his price action could soon end the entire crypto bullmarkt.

BTC -Price: Technical means

By Shayan

The daily graph

On the daily graph it has actively gradually fallen since he was high in the $ 124k of all time, with Augustish which may be closed. This is a worrying sign for investors, because the price now breaks below the most important level of $ 110k, that the price can drag to the $ 104k region and possibly even below $ 100k.

The RSI also stabilizes under 50, which indicates the dominance of Bearish Momentum. As a result, further disadvantage is currently more likely, unless market dynamics are changing drastically.

The 4-hour graph

Down to the 4-hour graph, it becomes a bit more interesting. The active has fallen in recent weeks within a steep Daal channel and breaks under large support levels. Now that the level of $ 110k breaks down, investors are looking at the most important FVG at $ 104k. This level coincides with the lower limit of the Fibonacci Golden Zone, which strengthens its importance.

With the RSI that also indicates a clear bearish Momentum, if the $ 104k zone is also a lot, a lower layer can be under $ 100k, as well as a bearish trend for the coming weeks.

Onchain -analysis

Exchange Netflow (30-day advancing average)

The graph shows that since April the exchange of Netflows has leaned more bearish than Bullish, with the 30-day advancing average that is consistently in a negative area.

This means that more Bitcoin has left exchanges than coming in, which often prefers to keep investors instead of preparing for selling. The overall trend is in line with a decrease in the available exchange reserves, which suggests that a supply coil can develop under the surface.

At the same time, although there have been isolated days of large inflow into exchanges, they have been prevented by just as strong. This balance reinforces the idea that spikes in the short term in sales pressure have not been sufficient to reverse the broader accumulation trend.

As long as the reserves continue to fall and coins of trade fairs are moved, it indicates that holders are still confident in the long term, and this underlying accumulation can offer support for the price in the coming months. This is of course if it overwhelms the sales pressure of the Futuresmarkt.