$BTC Approaches $110K: Breakout or Bull Trap?
my view ๐
Bitcoin (BTC) is currently trading at $108,403, nearing the significant psychological resistance at $110,000.
Key Technicals๐
Resistance: $110,000
Support: $105,000
RSI: 68 (approaching overbought territory)
MACD: Bullish crossover observed on the 4-hour chart
Market Sentiment: Predominantly bullish, with caution advised due to potential for a 15-20% correction.
Trade Insight: A decisive breakout above $110K could signal continued upward momentum. However, traders should remain vigilant for potential reversals.
