Technical Analysis for Bitcoin BTC/USDT - Daily Time Frame
Current Price: 107,843.76 USDT
Daily High: +2.24%
Highest Price in 24 Hours: 107,954 USDT
Lowest Price: 104,184 USDT
An old descending channel has been broken, and the price is currently moving within a clear ascending channel.
The price has touched the upper limit of the channel, which may lead to a short-term correction.
MACD Indicator:
Strong positive crossover between the fast and slow lines.
Momentum Indicator above the zero line = continuation of the upward trend.
RSI (14):
Currently at 57.5 = still in the neutral zone, has not yet entered the overbought area >70.
This gives a chance for further upward movement before a correction.
The price is in a strong upward trend supported by good momentum, but due to reaching resistance levels, we may see:
A temporary correction towards 105,600 – 104,800
Followed by a new attempt to break through 108,000 then 111,300
Watch Point: If the price stays above 107,000 in the coming hours, the next potential target is 111,342
