๐ BTC/USDT Technical Update โ Support & Resistance Analysis ๐
As of now, #Bitcoin is trading at $104,443.40, showing slight upward momentum (+0.19%). Let's take a look at the support and resistance levels based on current market structure and moving averages:
๐ Key Resistance Levels:
$106,395 โ 7-day MA (short-term resistance)
$105,799 โ 25-day MA (important mid-term resistance)
$107,666 โ Previous price rejection zone
$111,980 โ Recent high, strong resistance
If BTC can break above the 25-day MA, it might retest $107K+, and further move toward $111K.
๐ก๏ธ Key Support Levels:
$103,068 โ 24h low and immediate support
$101,707โ102,000 โ Price region around the last bounce
$97,133 โ Historical consolidation zone
$91,707 โ Long-term support (99-day MA)
๐ MACD Analysis:
MACD line is below the Signal line (MACD: -1,018.13), suggesting bearish momentum is still present.
But the DIF-DEA gap is narrowing, hinting at a potential reversal if buyers step in.
๐ Conclusion:
BTC is currently in a consolidation phase, with the price testing support near the 25-day MA. If bulls can regain momentum, a breakout above $106K could trigger another leg up. However, a breakdown below $103K may lead to a retest of $97Kโ$91K support.
๐ Traders: Watch closely for confirmation candles and volume spikes around these key levels.
