Analyst: Bitcoin approaches key resistance level of $106000, and profit taking by whales may rise

BlockBeats news, on May 13th, according to Cointelegraph, data analysis platform Alphractal pointed out on the topic of slowing Bitcoin's upward momentum that Bitcoin is approaching the resistance level of $106000 and retesting the range has increased the risk of whale profit taking. Alphractal CEO Joao Wedson stated that from the chart, Bitcoin is currently approaching the "Alpha Price" range, which is a position that long-term holders or whales may choose to take profits from. From a liquidation perspective, the risk of 'bull squeeze' is also increasing. If the price of Bitcoin falls to $100000, it will trigger the liquidation of large leveraged long positions. This price range may attract the price, leading to a retest of this key psychological barrier.