The pattern of “clamp soil” is usually formed at the end of a bearish trend.
If Bitcoin fell below $ 100,000, this analysis would be annulled.
The price of Bitcoin (BTC) fell in recent days to 101,000 dollars, impacted by events such as the public dispute on social networks between Elon Musk and Donald Trump, along with sales of traders and experienced investors.
However, technical analysis suggests that this fall could have touched the bottom, since the price graph It shows a pattern known as “ground in tweezers”pointing out a possible bull reversal after the recent bearish trend.
According to analyst Zvi Bar, if BTC maintains this reversal, an upward movement is expected that could prove the previous $ 112,000, the last record reached days ago. However, Bar warns that, if the price falls below $ 100,000, This bull thesis would be invalidated. As you can see, the price action this week will be key to confirm whether reversal is sustainable.
During the last week, Bitcoin faced a strong bearish pressure, approaching $ 100,000 after political tensions in the United States, as cryptootics reported. This critical level, according to bar, marked a point where buyers intervened strongly.
The soil pattern in tweezers, identified in the graph below, is a candle formation that indicates a possible bullish reversal. This pattern is formed after a clear bearish trend, like the one that BTC experienced from its historical maximum.
Bar points out: “If this is the case, Bitcoin could be ready to reverse and potentially reach new maximums in the short term. For this reason, provided that BTC is maintained above its closing of June 6 and does not break the apparent background it did, it seems ready to change course, move up and test the upward resistance in the short term.”
The tweezing floor is characterized by two consecutive candles with almost identical minimums. The first candle, bassist, reflects a strong sales pressure, while the second, Alcista, shows a determined intervention of buyers that prevent more falls.
In simple terms, sellers tried to push the price below a key level, But buyers defended itstabilizing the price and suggesting a change in trend. In the case of Bitcoin, the bearish pressure began after not exceeding $ 111,000, near its historical maximum.
The pattern bassist candle showed an attempt by the sellers for breaking $ 100,000, but the posterior upward sail indicated that buyers absorbed that pressure, bouncing from the same minimum. This establishes a solid support level, which could be the basis for a recovery.
Bar explains that a confirmed tweezers It implies a strong intervention of buyers and a change in the feeling of the market Towards new maximums. However, it is also possible that this support is not maintained.
Factors such as the expiration of weekly options, changes in interest rates, the weakness of the dollar or the feeling towards alternative assets could have influenced the upward sail, creating a false signal.
Other analysts coincide in the bullish potential. If Bitcoin recovers and reaches $ 114,000, it would enter a price exploration field, with estimates that place it between $ 120,000 and $ 130,000 in the short term, as reported by cryptoics.
Willy Woo, for example, says that it is “very unlikely” that Bitcoin has formed a double ceiling pattern (which is interpreted as bassist). On the contrary, this professional trader Clarify: “The liquidity that drives BTC is increasing, so the risk of a bearish market is decreasing.”
