Market Analysis
Bitcoin has just crossed the $100,000 mark, setting a new record. This surge is attributed to expectations surrounding President-elect Donald Trump's crypto-friendly policies.
Technical Analysis:
Immediate Support: $95,000
Immediate Resistance: $105,000
RSI (Relative Strength Index): Around 70, indicating an overbought condition.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, suggesting a bullish trend.
Volume: A significant increase in trading volume has been observed during the recent surge, reflecting strong market interest.
Fundamental News:
Trump has nominated crypto advocate Paul Atkins as SEC chair, which could create a favorable regulatory environment for cryptocurrencies.
Bitcoin's market capitalization is now close to $2 trillion, surpassing the global silver market.
Institutional adoption is increasing, with companies like MicroStrategy expanding their holdings to 402,100 BTC.
Note: The market is volatile; caution is essential while trading.
