Analysis of Bitcoin price for today

Today Bitcoin ($BTC ) opened at a level of $104,305. It has risen by 1.08% from the opening price. After dropping to $104,001, it is trying to climb higher. From the maximum price over the last 30 and 7 days, its value has decreased by -5.79% and -1.20%, while from the minimum recorded price of $ETH $XRP for the same period, it has increased by 9.99% and 4.90%.

According to our analysis, it is crucial for BTC to maintain a level above $103,491 in order to potentially advance towards the initial important resistance level at $106,202. If it breaks above the $106,202 level, BTC could gain momentum and rise to the next resistance level at $108,143. The third resistance level is even higher at $111,909. These levels signal potential points where it may encounter resistance or increase in value.

If the price drops, the first support level to watch will be $103,491. If this level does not hold, further decline may occur to the next support level at $99,449.

The EMA on the daily chart indicates a bullish signal. Bitcoin is currently above the 10-, 20-, 50-, 100-, and 200-day EMAs.