Why the price of bitcoin can rise to $ 109,000

Bitcoin is confidently restored after falling to the intraudic minimum of $ 100,424, recorded on June fifth. However, BTC still cannot overcome $ 105,000.

We figure out what is happening in the Bitcoin market (BTC) and what to expect from the price of cryptocurrency.

Cachene indicators indicate a bull impulse

The BTC liquidation map shows a significant liquidity cluster in the area of ​​$ 106,736. These clusters usually attract bitcoin buyers, which makes a breakthrough above $ 105,000 more and more likely.

For BTC, the concentration of significant liquidity at the level of $ 106 736 indicates the high interest of traders in purchases or closing short positions at this price. This gives BTC the ability to overcome the resistance by $ 105,000 and rush to $ 106,000.

In addition, a decrease in the Network Realized Profit/Loss (NPL) indicates this optimistic forecast. At the time of publication, it is 715 million, falling by more than 90% since June’s fourth. Typically, a decrease in the indicator indicates that the pressure of sales weakens.

So, in the short term, BTC may begin to grow. This rise will be supported by investors and traders who are ready to go into the long -term retention of coins.

BTC forecast: breakthrough or rollback

At the time of publication, the BTC is traded at $ 105,630, being lower than the resistance at the level of $ 106 548. If a new demand enters the market, the coin will clear the road to $ 106,736 – the level where liquidity is concentrated. In this case, the price can go even higher – probably to $ 109 310.

If sales intensify, BTC risks staying in the current range or falling to $ 103,938.

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