$USDC

Technical Analysis of Bitcoin (BTC/USD) After Breaking the 99 Thousand Dollar Barrier

General Trend:

Strong bullish trend.

There is no historical resistance above the current price; the market is in an "exploration" phase.

Support and Resistance Levels:

First Support: $99,000 (psychological barrier and broken resistance turning into support).

Second Support: $95,500 (strong technical level + nearby moving averages like MA50).

Nearby Resistance: $100,000 (approximate psychological number, where profit-taking is normal).

Next Resistance: $105,000 - $110,000.

Technical Indicators:

Relative Strength Index (RSI): In overbought territory (>75), a slight correction is likely.

MACD Indicator: Bullish continuation signals, no negative crossovers so far.

Trading Volume: High, supporting the breakout.

Possible Scenarios:

1. Positive Scenario (70% chance):

Bitcoin price stabilizes above 99 thousand.

Breaks the 100 thousand level with increasing momentum, targeting 105 thousand then 110 thousand.

2. Corrective Scenario (30% chance):

Fails to stabilize above 99 thousand.

Corrects to $95,500 then resumes the bullish trend.

Advice for Speculative Traders:

Pay attention to the 99 thousand-100 thousand area for short-term profit taking.

Average Swing Traders: It is better to wait for a retest of 99 thousand to enter buy trades.

USDC

1

-0.01%