Key points:
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Bitcoin Bulls can say goodbye to the entire upward market if they lose support of $ 100,000, predict a new prognosis.
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BTC Price Action faces a RSI signal battle while competing the bullish and bassist divergences.
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Some see the opportunity to buy the sauce just above the $ 100,000 brand.
Bitcoin (BTC) will finish its upward market if you lose the support of $ 100,000, according to a new warning.
In his last analysis in X, the popular merchant Roman predicted that if the six -digit BTC prices become one thing of the past, the bull cycle will also do so.
Bitcoin Bull Run “officially” depends on $ 100,000
Bitcoin has changed the feeling of the market again with its last sauce, which at some point took BTC/USD 15% compared to the maximums exceeding $ 125,000.
The BTC price objectives have been adjusted in Step, with Roman among those who see a new level of levels closer to $ 100,000 and less.
However, if bulls do not support that psychologically crucial area, the perspective will be much worse.
“It definitely looks ugly since we have lost our upward trend and 112K support,” summarized together with the daily BTC/USDT table.
“98-100K is the level to see. We lose that and * officially * confirms that Toro’s career is over.”
Roman added that in the Altos Time Mark, Bitcoin “still shows a lot of exhaustion”, referring to previous publications of August and previously.
These marked phenomena include a low volume of negotiation in the maximums and a bearish divergence in the indicator of the relative resistance index (RSI).
As Cinelegraph reported this week, four -hour deadlines are beginning to show a new uprising divergence in RSI, often an anticipated warning of an upward trend that returns.
Co -Intelegraph Markets Pro and TrainingView data confirmed that the upward divergence is still developed when writing on Sunday.
RSI’s uprising divergences give hope to merchants
Some market participants had the hope of a broader rebound in the cryptography market based on the current structure.
Related: Will Bitcoin Price fall in September?
“If this level is maintained, a new ATH in the next 4–6 weeks is on the table,” said merchant partner Zyn to X followers in part of a position that shows a divergence Bullish of weekly RSI.
“That is not hope. That is the structure.”
Others observed around $ 100,000 as an ideal entry zone instead of a signal to reduce exposure.
“It is quite clear that, in the short term, we are not in an upward trend in Bitcoin,” Michaël Van de Poppe’s Cryptography, analyst and businessman acknowledged in the day.
“I am pointing to the area around $ 102-104k for your support. I still think this is the best period to accumulate your positions.”
BTC/USD dropped around 6.5% for August at the time of writing, it was still better than the previous four years, according to Coinglass data.
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.