🟢 1. Technical Analysis
🔍 a. RSI (Relative Strength Index)
Daily Timeframe:
The RSI is around 78, which indicates overbought, signaling a potential correction.
Divergence:
No significant divergence detected at the moment, price and RSI are trending up together.
Other Timeframes:
1 hour: RSI approaching 72 (mildly overbought).
4 hours: RSI around 75.
Weekly: RSI above 70, indicating the strength of the bullish trend【7】【8】.
📈 b. Moving Averages (MA/EMA)
Daily Timeframe:
The 20 MA ($92,500) and 50 MA ($88,300) are well below the current price, confirming a strong bullish trend.
Weekly Timeframe:
The 200 MA supports the bullish trend at the $72,000 level.
Golden Cross:
The 50 MA crossed the 200 MA from below a few months ago, giving a cumulative bullish signal【7】【8】.
📊 c. MACD
Histogram:
Positive momentum is visible on the histogram with the bars continuing to rise.
Daily and Weekly Timeframe:
The MACD line is above the signal line, supporting the long-term bullish trend【8】.
📏 d. Bollinger Bands
Price Position:
Price is approaching the upper band boundary ($99,000), indicating potential overextension.
Bandwidth:
Bands widen, reflecting high volatility【7】【8】.
📉 e. Trading Volume
Daily volume is above the last 10-day average, indicating high market interest at this price level【7】【8】.
🛠️ f. Support and Resistance
Support:
$95,000 (psychological support and 23.6% Fibonacci retracement).
Resistance:
$100,000 (key psychological level)【8】.
🌀 g. Price Pattern
There is no significant pattern like head and shoulders or double top seen at the moment. Uptrend is more dominant【8】.
🚀 h. Price Prediction
Short-term:
Minor correction to $97,500 before trying to break $100,000.
Long Term:
The bullish trend remains valid as long as it does not fall below $92,000.
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🌐 2. Fundamental Analysis
⚙️ a. Network Adoption
Transaction activity is increasing, supporting Bitcoin's narrative as a global store of value.
Network hashrate continues to set new records【7】.
💰 b. Token Usage
Bitcoin is used more as an investment asset than a transaction tool, which is stable in attracting institutional interest【8】.
🌟 c. Technological Innovation
There have been no major technological updates to the Bitcoin blockchain, but the Lightning Network continues to gain adoption as a second-layer solution.
🏆 d. Competition
Bitcoin remains dominant in the market with a capitalization of around $1.9 trillion, larger than any other altcoin【7】【8】.
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📊 3. Market Sentiment
🌍 a. External News
Macro factors such as low inflation data and expectations of stable US interest rates reinforce the bullish narrative.
🎯 b. Community Sentiment
The Fear and Greed Index shows “Extreme Greed,” reflecting euphoria in the market【7】【8】.
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✅ Conclusion
Bitcoin is currently in a strong bullish trend, but the price is approaching the psychological resistance of $100,000.
Although the potential for a minor correction exists, technical indicators and market sentiment support the possibility of a breakout to a new price level if trading volume remains high.
Fundamental adoption and institutional traction remain key catalysts.
