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Bitcoins Show Signs that $110,000 Is Possible “Buy The Dip” Territory

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TD9 Setup On Bitcoin Price Chart Suggests It Could Take
TD9 Setup On Bitcoin Price Chart Suggests It Could Take

Important points

  • Bitcoin has finally attracted investors. “buy the dip” Prices start at around $110,000.

  • Many support retests are continuing to attract traders’ attention.

  • A strong close on the daily chart can help bulls achieve a bullish RSI.

BitcoinBTCThe pressure was kept on the key supports Thursday, as buyers showed signs that they were interested in buying again.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

BTC returns below $110,000 price levels

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView Bitstamp’s BTC/USD chart shows a decline below $110,000.

The target was to have liquidity in the exchange order book on both sides of the price, and that includes local lows as well as resistance, which is now at $112 300. key focus.

BTC liquidation heatmap. Source: CoinGlass

“Time to lock in again, 4th time testing this demand area,” Trader Skew wrote In an earlier post, I talked about it.

BTC/USD four-hour chart. Source: Skew/X

Rekt capital, a trader and analyst noted that BTC/USD has now fulfilled an outstanding “gap” CME Group offers Bitcoin Futures.

Relative Strength Index:RSIRekt Capital has its eyes on an “emerging” bullish divergence with price — a potential sign of upside to come.

“Price needs to Daily Close just like this to crystallise it,” He also added.

BTC/USD chart for one day with RSI. Source: Rekt Capital/X

Ted Pillows, a crypto analyst and entrepreneur, used the market sentiment to prove that Bitcoin was establishing local floors.

“$BTC has been consolidating after last week’s crash,” He told X Followers 

“Sentiment is at an all-time low, people are panic selling and ‘it’s all over’ is on the timeline. This doesn’t happen at the top, but rather at the bottom.”

Bitcoin comparison. Ted Pillows/X: Source

Pillows posted a graph comparing the current BTC prices to those from March 2020’s COVID-19 crash.

You can also read about the advantages of using Cointelegraph reportedThe Crypto Fear and Greed Index is now at “fear” This month’s lows are the same as those of six months ago.

The Bitcoin Dip-Buyers have finally emerged

Glassnode’s onchain analytics platform, Glassnode was able to provide some positive news about bulls while researching trends in the investment world.

Related: Bitcoin traders fear $102K BTC price dive next as gold sets new highs

The BTC between 1,000 BTC to 1 BTC holders. revealed The day was showing “strong accumulation.”

Whales are not the only animals that can be endangered. distributed large amounts BTC on the market for a few weeks now, their sales have been slowing down.

Glassnode stated that the following was “signaling renewed confidence in spite of the recent shakeout.”

Bitcoin Trend Accumulation by Investor Cohort Source: Glassnode/X

The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.