As of today, $BTC is trading around $117,944, just off its intraday high near $118,171. Letโs weave that into our outlook.
๐ Possible Signs of a Pump
โ Bullish Patterns: BTC has completed a classic cup-and-handle breakout above its previous all-time high (~$111K), fueling bullish momentum (Business Insider, TradingView).
โ Institutional Flows: Continued ETF inflows are contributing to price strength (News.com.au).
โ Macro Tailwinds: A weakening U.S. dollar and signs of Fed rate cuts are pushing BTC toward new highs.
๐ Possible Signs of a Dump
โ RSI Divergence: While BTC makes new highs, momentum oscillators like RSI are showing overbought signals โ watch for potential pullbacks.
โ Rising Exchange Inflows: Increased transfers to centralized exchanges may suggest potential selling pressure.
โ High Leverage Risk: Surging open interest in futures markets can amplify corrections if the trend shifts suddenly.
๐ BTC/USD Technical Analysis
๐ฐ Current Price:
$117,944 โ hovering near the intraday high of $118,171.
๐ก๏ธ Support Zones:
$113Kโ$114K โ recent consolidation range (CryptoPotato, Barchart.com).
๐ง Resistance Zones:
$120K and $125K+ โ strong psychological barriers ahead.
๐ RSI (14-day):
60โ80 range โ neutral to slightly overbought zone. Watch for cooling or breakout strength.
๐ MACD:
Bullish crossover โ indicating sustained upside momentum.
๐ Volume:
Dipping slightly โ breakout still intact but watch for follow-through.
๐ Key Levels to Watch
๐น Bullish Scenario:
A sustained close above $120K on strong volume could lead BTC toward the $125Kโ$128K range.
๐น Bearish Scenario:
A fall below $113K could trigger a deeper correction, possibly revisiting the $107Kโ$110K levels.
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