BTC Bullish or Bearish ??
Here's a detailed technical analysis based on current market data👇
📊 Technical Overview
✓Short-Term Outlook (1–4 Hours)
Trend: Slightly bearish to neutral.
Resistance: $105,364.17; a break above could indicate bullish momentum.
Support: $103,539.86 and $102,425.02; holding above these levels is crucial to prevent further downside.
Indicators: Mixed signals; some technical indicators oppose the bearish trend, suggesting caution in short-term trading strategies.
✓Medium-Term Outlook (Daily Chart)
Pattern: Formation of a symmetrical triangle, indicating potential for a significant price move upon breakout.
Resistance: $106,000; reclaiming this level is essential for resuming upward momentum.
Support: $101,000; a drop below could signal a deeper correction.
Indicators: A golden cross (20 EMA crossing above 50 EMA) supports a bullish outlook.
✓Long-Term Outlook (2025 Projections)
-Bullish Scenario: If BTC maintains support above $91,000–$100,000, projections estimate a potential rise to $340,000 by year-end.
-Bearish Scenario: Failure to hold key support levels could lead to a retest of lower support zones, possibly around $90,500 or $80,500.
📈 Trading Strategy
Short-Term Traders: Exercise caution; consider entering positions upon confirmation of a breakout above $106,000 or a bounce from support at $103,539.86.
Long-Term Investors: Monitor macroeconomic factors and institutional adoption trends, as they play a significant role in BTC's long-term trajectory.
