$BTC TA Update 🚨

Bitcoin (BTC) is currently trading around $104,754, hovering just below its all-time high of $109,225 reached in January 2025. Despite recent bullish momentum, technical indicators suggest caution.

The Relative Strength Index (RSI) stands at 42.66, indicating a neutral market position, neither overbought nor oversold. Moving averages present a mixed picture: while the 200-day SMA is at $83,885, suggesting long-term support, shorter-term SMAs (50-day at $92,251 and 100-day at $95,020) are signaling bearish trends.

Analysts warn of potential resistance near $107,000, with a projected upside target around $120,000 if the rally continues. However, if Bitcoin fails to maintain support at the $100,000 level, it could retrace to around $92,000, where significant technical support lies.

Market sentiment remains cautious, with 77% of technical indicators signaling bearish trends. Investors are advised to monitor key support and resistance levels closely, as well as macroeconomic factors that could influence market dynamics. #CryptoCPIWatch #CryptoRoundTableRemarks #BinanceAirdropNXPC $BTC