🔥 "Bitcoin is breaking resistance strongly.. Has the crawl towards 110 thousand begun?!" 💥
🔍 Technical analysis:
🔹 Timeframe type: One hour
🔹 Current price: 108,227.07
🔹 Highest price in the last 24 hours: 108,297.89
🔹 Lowest price: 107,084.15
1. General trend (Trend):
The trend is very clear upward on the hourly chart, supported by the arrangement of moving averages MA:
✅ MA(7) is above MA(25) and above MA(99)
✅ Price is above all moving averages — a signal of continued upward momentum.
2. Technical Indicators:
📈 MACD indicator:
The fast line (MACD) has crossed the signal line upward =
✅ Clear buy signal
The gap between them has started to widen = the upward momentum is increasing.
📉 RSI indicator:
RSI(6) = 89.44 ✅
RSI(14) = 72.83 ✅
RSI(24) = 64.05 ✅
> Analysis: The indicator is in the overbought area but has not given a reversal signal yet.
✳️ This means the possibility of continued upward movement but be cautious of a correction.
3. Trading volume (Volume):
Noticeable increase in volumes with the rise, confirming that the buying is genuine and not a temporary speculation.
4. Nearby resistances and supports:
✅ The nearest current resistance tested: 108,297.89 (was briefly broken)
🔽 Nearest strong support: 107,164.39 then 105,797.21
💡 Recommendation:
If you haven't entered yet:
✅ Enter with a retest of the level 107,800 – 107,600 with a stop loss below 107,000
If you are in the trade:
✳️ Hold the trade and watch for the next resistance at 109,500 – 110,000
🎯 Potential next target: 110,500 – 111,200
🟨 Notes:
Although RSI is high, the price is moving with strong momentum and supported by the averages = the rise may continue.
Keep in mind the possibility of a slight correction after reaching levels of 109,500+.