Hello everyone,
I hope everything is well.
Looking at the monthly chart of Bitcoin ($BTC ), which is trading around 104,945.38 USDT, the asset reached a high of 105,299.21 USDT and a low of 103,752.49 USDT in the last 24 hours.
The highest price of the candlestick chart last month was 111,980.00 USDT (new #ATH at #Binance ), serving as an important resistance.
The Moving Averages (EMA) indicate an upward trend, with EMA(7) at 94,218.30 USDT and EMA(25) at 70,804.86 USDT.
The RSI(6) is at 71.88, close to the overbought zone, suggesting a possible correction. 🚨‼️
The trading volume is high, with 8640.77 BTC traded and 902.98M USDT moved in the last 24 hours.
The bearish divergence in the RSI suggests a possible weakening of the upward trend, which may result in a price correction.
If a drop occurs, the primary support is 103,752.49 USDT. If the resistance of 111,980.00 USDT is broken, the asset may resume its upward trajectory.
Therefore, Bitcoin maintains an upward trend, but the bearish divergence and high RSI suggest a possible correction for the month of June, so it is advisable to watch the support/resistance levels and volume to define appropriate strategies.
Tips:
- Make fractional purchases
- Control the trading volume across various time frames
- Monitor divergences
- Wait for breakout confirmations
- As a last resort, set a stop loss
Remember, your most valuable token is your capital, so protect it.
Best regards.
