#MuskAmericaParty Bitcoin under pressure: critical levels and technical signals.
The price of bitcoin is trapped in a congestion zone between $107,000 and $110,000. A tunnel that the queen of cryptos struggles to surpass. However, some indicators suggest a latency full of promises.
The RSI (Relative Strength Index) remains around 55. It is a mid-zone that suggests some market health. Neither overbought nor oversold. A neutral ground, ideal for laying the foundation for a solid movement.
Another key data point: the drop in liquidity caused by massive withdrawals from whales. This is a reduction of 39% of the bitcoin available for purchase. Lower supply in the markets, more bullish pressure if demand increases. And if the $110,000 level gives way, the psychological limit of $120,000 could become a reality.