Analysis : What is the next movement of BTC?

For the past few days, the price of Bitcoin has been on a downward trend. Moreover, it was feared that the price of Bitcoin could go towards $90,000. However, that fear could not be dismissed. There was a big reason behind this and that was the Iran-Israel war. Again, US President Donald Trump added a big dimension to it. Because I think Trump is largely responsible for the ups and downs in the market. Because most of the time, he does the opposite of what he says with his mouth. For example, he showed this in the Iran-Israel war. However, after the announcement of the 12-day ceasefire, the market is now trying to go up a little. The market has gained some life in the last few days. Although all the points have increased by at least 7-8 percent.

source

However, the price of Bitcoin is currently trading above $107,000. There is a high possibility of going up from this position. Of course, there are some reasons behind this. Because if Bitcoin goes by $100,000 to one side, there will be a huge amount of liquidity. And Bitcoin is currently moving up and down to drain the liquidity of futures traders, and Bitcoin moves in the direction where there is more liquidity.

So if we don't see anything like a war in the market, we might see a new all-time high. Currently, the overall market is consolidating in a sideways movement. After enough time in this range, a breakout is imminent, be it to the upside or to the downside, we have the relevant rules to respond to any situation. More time is spent hunting. This week is complicated by the weekend, month-end and quarter-end, some options are expiring and need to be settled. Such time points are prone to volatility. Combined with recurring news, short-term trading needs to be more reactive.

From a technical perspective, the current range of fluctuations is between 107000 and 108000. The overall direction is still to the upside and a breakthrough to 108000 will draw attention to the 110000 mark. Therefore, as long as it does not break 106900 during the day, one should focus on buying on dips. Support levels are between 107200 and 106900, with resistance at 108000-108600