$BTC
Here's a combined fundamental and technical analysis of BTC/USDT based on the Chart and Market analysis provided and current market conditions:
BTC/USDT Snapshot
Current Price: $104,352.53 (+1.13%)
24h Range: $103,166.00 – $104,984.57
Volume (24h):
BTC: 20,059.11 BTC
USDT: $2.09B
Technical Analysis (Daily Timeframe)
Trend: Strong bullish trend, evident from the sharp green candles and price above key resistance levels.
Parabolic SAR: The blue dots below the candles confirm an ongoing uptrend.
Bollinger %B: Currently at 1.01, indicating that the price is at or above the upper Bollinger Band — a sign of strong bullish momentum but also overbought conditions.
Support Levels:
$100,000 psychological support.
$95,284.45 (as marked).
Resistance: Recently touched $106,143.82 – near-term resistance.
Fundamental Analysis
Bullish Drivers:
Institutional Interest: Bitcoin has seen renewed interest from ETFs, hedge funds, and corporate treasuries.
Halving Aftermath: The 2024 halving has historically led to price surges months later.
Macro Tailwinds: Rate cuts or inflation hedge narratives make BTC attractive as "digital gold."
Network Health: Bitcoin hash rate and address activity remain robust.
Potential Risks:
Regulatory Pressure: Global regulations on crypto markets can add volatility.
Profit-Taking Risks: After reaching new highs, short-term corrections are common.
Macro Events: Any global economic shocks or dollar strength can affect BTC demand.
Outlook Summary
Short-Term:
