Bitcoin BTC Analysis: Are We on the Brink of a New Bull Wave? 🚀

Article:

At the beginning of this week, the cryptocurrency market is experiencing a relative state of stability after the sharp fluctuations we witnessed in the past few days. The most famous currency, Bitcoin (BTC), is currently trading near the 104,500 USDC level, which is a very important resistance level.

Technical Analysis: 📊

The price has returned to trading above the 50-day moving average, which is a positive sign.

Strong support is found at the 100,000 USDC level, and if the price maintains it, we may witness an attempt to break through 108,000.

The Relative Strength Index (RSI) shows upward momentum, but caution should be exercised as it approaches the overbought territory.

Fundamental Factors: 🔍

The circulating news about the approval of new ETF funds could be a major driver for the upcoming rise.

Additionally, the anticipated decisions from the U.S. Federal Reserve over the next week may have a clear impact on market liquidity.

Summary: 🧠

Bitcoin shows strong recovery signals, but the market remains sensitive to news and economic decisions. Traders are advised to have a clear trading plan and manage risks wisely before entering any trade.

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