๐ Bitcoin (BTC) Technical Analysis & Entry Opportunities
1. Current Technical Status
Bitcoin is trading around $108,300, below the key resistance at $112,000 (recent high from May 22).
Most technical indicators (on TradingView and Investing.com) show โStrong Buyโ signals. RSI is around 61, MACD is positive, and momentum supports an upward trend.
2. Key Levels to Watch
Support: First at ~$105,000, then major psychological support at $100,000.
Resistance: Around $112,000, then potential breakout targets at $118,000โ$120,000.
3. Influencing Factors
Institutional inflows: Strong ETF demand (e.g., BlackRockโs IBIT), and ongoing accumulation by major companies (e.g., MicroStrategy).
Macro conditions: Weak USD and stock market uncertainty favor BTC as an alternative store of value.
Short-term risks: Some analysts caution about potential profit-taking and reversal patterns like a rising wedge.
4. Current Entry Opportunities
Buying between $105โ108k presents a solid entry point.
A breakout and sustained close above $112k could trigger a move toward $118โ120k.
Ideal strategy: Buy the dip with a stop-loss below $100k, or enter on confirmed breakout above $112k.
๐ Binance Square Post (Short Summary)
BTC ~$108,300 Technical: Strong Buy signals (RSI ~61, MACD positive) Support: 105k, 100k | Resistance: 112k โ Target 118โ120k Drivers: Institutional inflows, weak USD, potential for correction Strategy: Buy at 105โ108k with SL below 100k, or breakout above 112k toward 118โ120k
