🚀 #Bitcoin has tested the 109,500 $ level!

📌 Price and EMAs (Exponential Moving Averages)

The chart includes several EMAs that indicate short and long-term trends:
• EMA(14) – Blue: 106,002
• EMA(35) – Pink: 105,094
• EMA(50) – Yellow: 103,904
• EMA(100) – Purple: 100,123
• EMA(200) – White: 94,416

Interpretation:
• The current price is above all EMAs (currently at 107,505), which indicates a strong bullish trend.
• Short-term EMAs (14 and 35) are also trending upward and are above each other, suggesting strong upward momentum.

⸻

🟢 RSI (Relative Strength Index)
• RSI(6): 66.2
• RSI(12): 57.6
• RSI(24): 55.9

Interpretation:
• RSI values above 50 suggest positive momentum; above 70 indicates overbought conditions.
• RSI(6) is relatively high (66) and rising, indicating short-term strength.
• The other RSI values are neutral to bullish, indicating a positive trend but not yet overbought.

⸻

📉 Williams %R
• Current value: -12.9

Interpretation:
• A reading above -20 indicates overbought conditions.
• -12.9 suggests the asset is nearing short-term overbought territory, meaning a small pullback could occur — unless strong trend continuation overrides it.

⸻

📊 General Technical Outlook & Strategy
• Trend: Clearly bullish — price is above all EMAs.
• Momentum: Positive. RSI and Williams %R support upward price action.
• Support Levels: 105.094 (EMA 35), 103.904 (EMA 50), 100.123 (EMA 100).
• Resistance: 111.959 (recent high).

⸻

💡 Potential Scenarios

🔵 Bullish Case
• With continued support from EMAs, if 111.959 is broken, a new upward rally could start.

🔴 Bearish Case
• RSI and Williams %R suggest overbought conditions, so a short-term correction is possible.
• In that case, look for support around EMA(50) or EMA(100).