In the next twenty-four hours, technical indicators suggest that the price of Bitcoin (BTC) may face some corrective pressure after a strong bullish wave that brought it to record levels exceeding $111,900.
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🔍 Current Technical Analysis
Current price: Bitcoin is currently trading around $108,346, down 2.41% in the last 24 hours.
Support and Resistance:
Key support: Ranges between $106,000 and $107,000.
Next resistance: Located at $111,000, with the all-time high at $111,953.
Technical Indicators:
Moving averages indicate strong buy signals in the short term.
The Relative Strength Index (RSI) shows signals of overbought conditions, which may indicate the likelihood of a price correction.
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📈 Influencing Factors
Institutional flows: Exchange-traded funds have seen record net inflows, reflecting increasing institutional interest in Bitcoin.
Economic environment: Regulatory easing and financial issues in the United States may support the continuation of the bullish momentum.
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✅ Recommendation
For short-term traders: It may be wise to monitor current support levels. If the price holds above $106,000, there may be an opportunity to buy with a stop-loss placed below this level.
For long-term investors: The uptrend remains intact, and any price corrections may present an opportunity to strengthen positions.
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⚠️ Warning
Remember that the cryptocurrency market is characterized by high volatility, and trends can change rapidly. Always ensure you manage risk appropriately and do not invest more than you can afford to lose. $BTC
