š Technical Analysis: $BTC /USDT ā Bullish Momentum Builds
#Bitcoin (BTC) is currently trading at $112,859, showing a 0.60% increase from the previous close. The price has reached an intraday high of $113,237 and a low of $111,171. Technical indicators suggest a strong bullish trend, with the price above key support levels and moving averages signaling upward momentum. The Relative Strength Index (RSI) remains below overbought territory, indicating room for further gains. Volume analysis also supports the bullish outlook, with increasing trading volumes confirming the strength of the current move.
š Forecast: BTC/USDT ā Targeting Higher Levels
Looking ahead, Bitcoin is poised to test higher resistance levels. Analysts project a potential rally towards the $114,920 mark, where the 50-day Simple Moving Average (SMA) resides. A successful breakout above this level could pave the way for further gains, with targets extending towards $118,000 and beyond. However, traders should remain cautious of potential pullbacks to support levels around $107,000, which could provide buying opportunities in the event of a correction.