$BTC

Technical Analysis and Signals:

* General Trend: Many analysts indicate a continued strong bullish trend for Bitcoin. A brief technical assessment on several platforms recommends a "strong buy."

* Moving Averages: Bitcoin is currently trading above all major moving averages, supporting the bullish outlook.

* Relative Strength Index (RSI): The Relative Strength Index (14) is in the overbought zone, indicating buying strength.

* Stochastic Indicator (STOCH): The fast stochastic (9,6) indicates an overbought area, which may suggest an imminent correction or a continuation of momentum.

* Resistance and Support Areas:

* Bitcoin faces strong resistance in the range of $110,500 - $112,000. The price has been rejected from this area several times before, indicating strong supply there.

* If the price stabilizes above $108,000 and exceeds $109,500 with confirmed trading volume, it is likely to retest the $110,500 to $111,000 levels technically.

* Market Cycles: Some analysts see Bitcoin moving in a cycle of 7 to 10 days between peaks and troughs, and the current cycle may be approaching a temporary bottom, suggesting a near-term rebound.

* Fibonacci: Fibonacci levels indicate potential strong retracement areas around $97,000 - $96,500 and $94,800 - $95,200. These areas may represent good buying opportunities in case of a correction.