$BTC TA Update đđ
Bitcoin (BTC) is trading at approximately $103,060, reflecting a modest intraday gain of 0.36%. This marks a significant recovery from April lows near $74,000, driven by improved investor sentiment and institutional inflows.
Technically, BTC has formed a bullish âgolden cross,â with its 50-day moving average ($95,063) surpassing the 200-day moving average ($83,520), indicating upward momentum. However, the Relative Strength Index (RSI) stands at 41.9, suggesting neutral conditions, while the MACD indicates bearish momentum, pointing to potential short-term consolidation.
Key support levels are identified at $92,000 and $93,780, while resistance is anticipated around $107,000. Analysts project that if BTC maintains its current trajectory, it could test its all-time high of $109,225 and potentially reach $120,000 in the near term.
Despite the bullish outlook, caution is advised due to declining trading volumes and lingering macroeconomic uncertainties. Investors should monitor these factors closely, as they may influence BTCâs short-term price movements.