High purchase pressure on Bitcoin .. Are you approaching a new penetration?

Bitcoin recovered strongly, rose again over the level of $ 105,000 at a time when the bought momentum is increasing by big investors, and with the return of risks, the market is awaiting whether Bitcoin is able to break the $ 110,000 barrier and start a new wave of rise.

Quick recovery after landing and the return of the appetite for risk

Bitcoin has recorded a strong bounce from its last lowest levels at 98,200 dollars, and this sudden shift restored confidence to investors, especially after days of oscillation and fear, and the currency rose above an important psychological level that had previously turned into resistance while the “Crepto Quant” data indicates a noticeable increase in the size of the side purchasing (Taker Buy Volume), which indicates the entry of buyers with high convictions And direct market orders.

Markets monitor the resistance of $ 110,000

Even with the price improvement, Bitcoin still faces resistance at a range of 109,000 to $ 112,000, which is the level that stopped several attempts to rise during the month of June, and if it managed to overcome it, we may witness a start towards new summits, but if it fails, the currency may enter into a tight stage within a narrow range between 103,000 and 109,000 dollars.

Data analysis over 12 hours shows a strong bounce of support at 103,600 dollars, a level that has proven effective as an attraction for buyers since May, and the average currency has regained 50 and 100 moving currency, which enhances the positive view in the short term.

Fears of a possible correction if the resistance fails

Despite the momentum, some analysts warn of the possibility of a new correction if Bitcoin is closed without supporting 103,600 dollars or lost the level of $ 100,000 again, and this scenario may activate a wave of forced liquidation and pays the price towards lower levels, and in return if it can maintain trading above 105,000 dollars with an increase in trading volumes, the road will be paved for further climb.

Founding investors are reshaping the market

According to the analyst “Marton”, the last boom in Taker Buy Volume reflects the return of institutional or senior buyers, which may pave the way for larger price movements, and these indicators enhance the belief that the market is witnessing a strong gathering at the current levels.