Quick update on BTC price 2/6/2025

Timeframe D1:

• Current price: Approximately $104,800 – $105,800.

• Support: $103,068 (Fibonacci level 0.236)

=> If this level is breached, it could drop to 101kxxx-100kxx (the wick could still reach 99kxxx)

• Resistance: $106,000 – $108,000.

• RSI Indicator: Approximately 52 – neutral.

• MACD: Currently showing a slight bearish crossover, indicating short-term adjustment pressure.

Timeframe D4

• The uptrend is still maintained, although the most recent candle shows hesitation.

• MA 50 is declining, while MA 200 is still increasing, reflecting a positive medium-term trend.

Timeframe W

• The previous week's candle closed red after 7 consecutive weeks of increases, but with low volume, indicating weak selling pressure.

• The MA 200 week continues to rise, reinforcing the positive long-term trend.

✅ Overall assessment

• Short-term: BTC is in a slight adjustment phase after the recent surge. Maintaining the support level of $103,068 is crucial to sustaining the uptrend.

• Medium-term: The uptrend is still maintained, with the possibility that BTC will retest the resistance level of $108,000 this week.

• Long-term: Technical indicators and on-chain data support the uptrend, with a potential target of reaching $111,000 – $116,000 in June if current resistance levels are surpassed.

📌 Conclusion

Bitcoin is in an accumulation phase after a strong surge, with technical indicators and market data supporting the uptrend in the medium and long term.

However, investors should closely monitor important support and resistance levels in conjunction with news RELATED TO TAX of Tt Trump to make reasonable trading decisions.

This is a personal opinion and not investment advice.

God of Wealth Crypto.