Bitcoin

The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/btc-defends-96k-support-analysts-predict-105k-surge/" rel="noopener noreferrer nofollow">BTC Defends $96K Support: Analysts Predict $105K Surge</a><a href="https://cryptosnewss.com/david-sacks-named-white-house-ai-and-crypto-czar/" rel="noopener noreferrer nofollow"> </a>appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.<a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin [BTC]</a> has formed a range beneath $100k and struggled to break the key psychological level. This range extended from $92.1k to $99.5k.The Bitcoin mid-range support has been defended despite repeated tests over the past three days, and a rebound appeared likely.<h2 id="header-0">Bitcoin bulls push prices above $95.8k support</h2>Bitcoin defended the mid-range support at $95.8k over the past three days. It has not closed a 12-hour session below the mid-range level. Moreover, the A/D indicator has been trending higher this week.This was a strong sign that buyers were eager to add Bitcoin to their holdings near the mid-range support. It is possible that volatility could take BTC to the short-term lows at $94.5k. This could come about due to a liquidity hunt.The MACD was bearish on the 12-hour timeframe. Even though it was above zero, it signaled waning bullish momentum. The trading volume has slowly trended downward during BTC’s consolidation within this three-week range.<h2 id="header-1">Falling Open Interest showed sentiment was lukewarm</h2>The spot CVD was on a downtrend even though the bulls defended the mid-range support. Although this went against the findings from the A/D indicator, the timeframes were different. The past couple of days have seen increased selling, but the buyers were stronger over the past week.Alongside the falling short-term spot demand, the Open Interest(OI) has also slid lower. This generally happens when an asset stops its strong trend, which Bitcoin has done by forming a range.The falling OI indicated speculators were waiting for the market to make up its mind and break the range.Earlier, it was mentioned that a liquidity hunt could drive Bitcoin to the $94.5k support. The liquidation chart showed that, while this was possible, a price move higher to $105k was much more likely.The liquidity cluster at $105k was intense, and the <a href="https://cryptosnewss.com/microstrategy-boosts-bitcoin-holdings-to-42-billion-with-latest-2-1-billion-purchase/" rel="noopener noreferrer nofollow">BTC consolidation</a> around $100k built this liquidity. It is highly likely that Bitcoin will visit these highs in the coming days, and potentially break beyond it.The post <a href="https://cryptosnewss.com/btc-defends-96k-support-analysts-predict-105k-surge/" rel="noopener noreferrer nofollow">BTC Defends $96K Support: Analysts Predict $105K Surge</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

BTC Defends $96K Support: Analysts Predict $105K Surge

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