📊Updated technical analysis for Bitcoin (BTC)🤑
🔍 Momentum indicators and technical support
-RSI on short time frames (1 hour – 4 hours): is around 70+, indicating a potential overbought situation—we may witness a slight correction coming.
-MACD & moving averages crossover (4-hour): There is a positive crossover for upward movement, especially after breaking the accumulation triangle at ~$105,000, supporting a scenario for a rise towards $109,000 if momentum continues.
-Moving averages (20, 50, 100 EMA on 4-hour): The price is now above these averages, indicating short-term buying strength.
-Volume dynamics: A decline in volume during the overbought phase, which may precede a price explosion if a breakout occurs — as happened at the $105K triangle.
📌Entry and exit levels
🔹Potential entry points (Long Entry):
🔴Breakout above $107,000–107,500 with strong trading volume. Targets an upward move towards $109,000–110,000, and goals can be extended if the breakout continues towards $112,000 🚀🚀🚀🚀🚀.
⚠️Rebound from the support range between $105,000–104,300, especially if RSI gives a value below 50 with MACD support—an indication of preparation for a new push upward.
🔻Exit points / Profit taking:
🔴First profit-taking🤑🤑 at the resistance area between $108,500–109,000, especially after RSI overbought signals.
⚠️⚠️⚠️Stop-loss points:
-Upon breaking above $107k, it is preferable to place a stop loss below the breakout triangle, for example at $104,000.
-Upon rebounding from support, stop at a clear break below $104,000, which could push the price to test $100,000–99,000.
🎯Future scenarios
-Bullish scenario: Clear breakout of $107k – breaking resistance with volume + RSI under 80, which could push the price towards $109k then $112k, especially if the rise surpasses high trading volume.
-Corrective scenario: Failure of the breakout and entry into the RSI overbought peak (≈70-75), supported by a lack of momentum continuation, may lead the correction to the lower support level at $104k, and possibly below that, especially if market selling pressure from institutions occurs.
✅Quick summary for execution
⚠️Long entry: upon breaking $107,000 with trading volume.
-Target: $109,000–110,000 (first phase), then $112k in case of strong momentum🤑🤑.
⚠️⚠️Stop loss: below $104,000.
-Entry rebound: at support between $105k–104.3k with RSI/MACD signals, and stop loss below $104k.
-Sell/Partial profit-taking 🤑🤑: at levels $108.5k–109k, especially if RSI shows overbought or weakness in momentum.