Bitcoin Fundamental Update 🚀
Bitcoin is currently trading around 108,591 after bouncing strongly from the 104,000 zone, continuing to respect the bullish trend structure with higher lows being maintained.
🔹 Current Market Situation
Btc is currently holding above the 20,50, 100, and 200 all ema levels, reflecting ongoing strength in price action. The rsi is also recovering from the lower range, indicating a neutral to slightly bullish sentiment and potential momentum buildup if buyers step in.
🔹 Important Technical Point
Btc recently held the 104,400 support area and has since seen renewed bullish activity. The key resistance remains at 111,963, and a breakout above that could push price toward the next targets at 115,000 and 120,000. Immediate support is now seen at 106,000 and 104,400.
🔹 Market Catalyst To Watch
As we step into Tuesday, US Core Retail Sales data will be the key economic event to watch. Alongside, geopolitical tensions may also impact risk appetite and introduce short-term volatility.
🔹 What To Expect
As long as btc sustains above the 104,400 level, the bullish outlook remains valid. Any dip into nearby support zones may offer fresh buying opportunities, with potential for a move back toward resistance levels. Traders should keep an eye on key economic data and market sentiment over the next 24 hours.
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