Technical analysis#BTC/USDT Update 🚨 Key Support & Resistance Levels 📈
Bitcoin is currently trading at $105,692.66, showing a slight recovery of +0.14% on the daily chart.
🔍 Support & Resistance Analysis:
Immediate Resistance: $106,222 (25-day MA) – A break above this level could pave the way toward $108,172, and potentially $111,980 (previous swing high).
Immediate Support: $104,692 (7-day MA) – Holding this level is crucial to maintain the current bullish sentiment.
Stronger Support Zone: Around $103,555 – $98,938 – Previous consolidation and bounce region.
📊 Technical Indicators:
MACD remains bearish (MACD: -518.48) but shows signs of flattening out.
Volume is declining, indicating a potential breakout setup is brewing.
Price is hovering just under the 25-day MA, suggesting a potential test and breakout scenario.
⚠️ Key Insight: If BTC can close above the 25-day MA with volume confirmation, we may see renewed bullish momentum. However, failure to hold $104,692 could see a retest of deeper support levels.$BTC