Bitcoin Price Battle: $106K Crash or New ATH?
Note: This post may contain affiliate links, and we may earn a commission (with No additional cost for you) if you make a purchase via our link. See our disclosure for more info. The crypto world is constantly changing. This content is for informational purposes only and not financial, legal, or professional advice So, please verify the info on the cryptocurrency provider’s websites.
Bitcoin's price is highly volatile after a sharp drop caused by President Trump's new tariffs on EU imports. The cryptocurrency plummeted from near its all-time high of $111,800 to around $107,500 in a short time. While a brief recovery to $109,000 occurred, a significant struggle between buyers and sellers persists. Technical analysis reveals two key price zones: a lower fair value gap (FVG) around $107,500, and an upper FVG between $109,800 and $110,700. These FVGs represent areas of significant price support and resistance. Crypto analyst TehThomas highlights that a breakout above or below these zones will determine Bitcoin's next major price movement. A bullish scenario involves a bounce from the lower FVG, pushing the price toward the upper FVG, and potentially leading to a new all-time high above $113,000. Conversely, a bearish scenario suggests a breakdown below the $107,500 support, potentially leading to a drop towards $106,000, a level with significant liquidity. The current price hovers around $107,017, making the $107,500 support level crucial for determining Bitcoin's immediate future direction. The price action will likely be accompanied by significant trading volume, confirming either a bullish surge or a bearish decline. This intense volatility underlines the impact of macroeconomic events on Bitcoin's price.
