๐ #Bitcoin Price Watch: Bullish Reversal Takes Shape on Daily Chart
$BTC is currently trading at $107,059 with a market cap of $2.12T and a 24h volume of $27.75B. Despite modest volatility (range: $105,030โ$107,219), signs of a bullish reversal are emerging across key timeframes.
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๐ฏ๏ธ Daily Chart Outlook
BTC has rebounded strongly from the recent low of $98,240, reclaiming the $106K zone after a heavy-volume selloff.
โ Bullish engulfing candle
โ Strong support: $98,240
โ Key resistance: $112,000
Buyers are slowly regaining control, with the price structure favoring upward continuation.
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โฑ๏ธ 4-Hour Chart
A textbook V-shaped recovery is unfolding โ from $98,240 to $107,277.
๐ข Higher highs & higher lows
๐ข Increasing buy volume
๐ข Pullback zones: $104,500โ$105,000 (now support)
If structure holds, move toward $108K likely.
๐ Risk: Breakdown below $103K invalidates trend.
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๐ 1-Hour Chart
A bullish flag is forming above $106K โ a breakout above $107,300 could open the door to $108,000โ$108,500.
โ ๏ธ Caution if price dips below $106,200 โ intraday momentum may weaken.
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๐ Technical Indicators
RSI: 56 (Neutral)
Stochastic: 69 (Neutral-Bullish)
CCI: 54 (Stable)
ADX: 17 (Weak trend)
MACD: -19 (Slightly Bearish)
โ๏ธ Momentum mixed โ breakout confirmation is key.
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๐ Moving Averages (All Bullish)
Short-term:
EMA10: $105,051
SMA10: $104,607
Long-term:
EMA200: $93,942
SMA200: $96,056
โ Alignment across all timeframes points to broader strength.
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๐ข Bull Verdict:
If BTC breaks $107,300 with volume, bulls could push toward $112K, confirming a sustained uptrend with strong support from moving averages.
๐ด Bear Verdict:
If $BTC fails to hold above $106K and dips below $105K, the rally could stall, risking a drop toward $102Kโ$101.5K.
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