Bitcoin ( $BTC ) is trading around $104,461, marking a significant recovery from its April lows below $90,000. Prices involves a mix of technical analysis, market sentiment, and macroeconomic factors. While no prediction is guaranteed.
📝 Resistance Zones:
$105,000-$106,750: Current resistance zone where BTC is showing signs of exhaustion.
$108,000-$109,588: Historical highs from January 2025, acting as significant resistance levels.
$120,000: Projected upside target if the rally continues.
✒️ Support Levels:
$103,500: Immediate support level.
$100,000: Strong psychological and technical support.
$92,000-$94,000: Key consolidation support zone.
📈 Bullish Scenario: If BTC sustains above $104,000 with strong volume, it could target the $108,000-$110,000 range.
📉 Bearish Scenario: Failure to hold above $100,000 may lead to a pullback towards $92,000. Investopedia
Trading Tips
• Monitor Volume: High trading volume on breakouts above resistance levels can confirm bullish momentum.
• Watch RSI Levels: An RSI above 70 may indicate overbought conditions, suggesting a potential pullback.
• Set Stop-Loss Orders: Given BTC's volatility, consider setting stop-loss orders to manage risk effectively.
• Stay Informed on Macroeconomic Factors: Global trade developments and regulatory news can significantly impact BTC's price.
