$BTC
Here is a concise and accurate analysis of Bitcoin (BTC) based on the current price of $104,962.74:
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๐ Brief Technical Analysis (BTC/USD)
Current price: $104,962.74
Overall trend: Strong Bullish
โ Important Technical Levels:
Nearby resistance: 106,500 โ if broken firmly, we may see movement towards 110,000.
Nearby support: 102,000 โ breaking this may open the door for a drop towards 98,000.
Moving averages (MA50 and MA200): the price is above both, which reinforces the upward trend.
๐ Momentum Indicators:
RSI (Relative Strength Index): 72 โ in overbought territory, we may witness a temporary correction.
MACD: Positive, with a bullish crossover โ supports the continuation of the upward trend.
๐ง Quick Overview:
Bitcoin continues its upward momentum after surpassing the 100,000 levels, supported by financial institutions and increased demand.
The price is currently in a new pricing phase (Price Discovery), making caution necessary when entering now.
๐ Technical Recommendation:
๐ For speculators: Wait for a correction towards 102,000 โ 103,000 to buy with a close stop loss.
๐ผ For investors: Hold as long as the price is above 98,000.
๐ Updated Chart (Simplified):
| 110K โโโโโโโ Potential Target
| 106.5K โโโโโ Resistance
| 104.9K โโโโโ Current Price
| 102K โโโโโโ Support
| 98K โโโโโโ Major Support
