Texanalyst named the key levels of Bitcoin resistance – $ 115,000 and $ 223,000

Despite the oscillation, the market remains optimistic until the bitcoin is traded above $ 100,000. The potential zones of resistance of the current “bull” cycle – between $ 140,000 and $ 200,000, have been assumed by the Coindesk analyst Omkar Godboul.

“One way to identify such levels is to draw trendy lines that connect key minimums and maxima. They set the direction of movement and help to identify resistance and support areas, ”the expert explained.

Godbooul proposed to draw a line through the peaks of 2017 and 2021 – about $ 20,000 and $ 70,000. This approach allows you to determine the sections of possible pressure from sellers.

At the time of publication, the trend line indicates resistance in the $ 115 300 area:

Lunar bitcoin price schedule on a linear scale. Data: Coindesk, TradingView.

The same diagonal limited growth in December and January. In April, the price was reduced to $ 75,000 during correction.

The analyst noted that the previous schedule is linear and captures absolute changes in price.

“This type of graph is better suited for short -term analysis, but can distort long -term trends,” Godbooul explained.

In his opinion, the logarithmic scale more accurately reflects the dynamics of growth and allows you to more correctly build trend lines.

Lunar bitcoin price schedule on a logarithmic scale. Data: Coindesk, TradingView.

In such an interpretation, the trend line drawn through historical peaks indicates a resistance at about $ 223,000.

Recall that at the end of June, Cryptoquant analysts predicted a “restrained” growth of bitcoin up to $ 160,000.

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