$BTC

🔥Bitcoin Breaks $100K! Can It Hold It or Is a Pullback Coming?

Bitcoin has surged past the significant $100,000 milestone, surprising many and stirring up the market. This remarkable climb has sparked speculation: Can this upward trend be sustained or is a dip imminent? Investors and analysts are watching closely to see what this development means for the cryptocurrency’s future.

Bitcoin (BTC)

Over the past 6 months, Bitcoin’s price has increased by 80.45%. Over the past month, it has risen modestly by 1.52%, but over the past week, the price has fallen slightly by 2.49%. Bitcoin is currently trading between $94,057 and $104,020.

Based on this data, Bitcoin’s short-term momentum looks mixed. The recent weekly decline suggests selling pressure, but the monthly and 6-month gains indicate a strong uptrend. The Relative Strength Index (RSI) is at 52.62, indicating a neutral market. The MACD level of 165.70 points to a potential upward move.

Looking ahead, Bitcoin faces resistance at $110,157. A break above this level could reach $120,119. Support is at $90,233, with a second support at $80,271. A move to the nearest resistance would mean an increase of about 6%; a drop to support would be a decrease of about 4%. The 10-day and 100-day simple moving averages are $99,147 and $100,182, showing consolidation around current prices.

🔥Disclaimer 👉 This is my personal analysis for educational purposes, buy/sell/trade at your own risk. I am not a financial advisor!

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