We mentioned 3000 times that the 100,000 level is important
• Why is 100,000 important?
During the last 3 months, the 100,000 level was the most heavily traded area, meaning people opened buy and sell positions here. So this level could be an initial resistance.
• What is required to rise?
If we break the 100,000-100,500 level and stay above it, it will be a positive indicator for the continuation of the rise.
• What is happening in the market?
(CVD) data shows that buying is continuing, especially from large institutions on the Coinbase platform.
• Market funding is stable, and there is no great pressure.
• On the Binance platform, there are people opening sell (Shorts) deals a little more than buying, but the difference is not big.
So what do we understand from this talk?
If we exceed 100,500 and stay above it, we will see a rise. But if we stop at it as resistance, the price may go down a bit for a correction.
Anything can happen, let's watch and see where the market will take us