$BTC Technical Analysis
Bullish Scenario – $105K Target:
Ascending Channel Formation: If Bitcoin is trading within an ascending price channel, continued momentum could push it past key resistance zones toward $105K.
Moving Averages: If the price stays above the 200-day moving average and forms a golden cross (50-day MA crossing above the 200-day MA), it signals sustained bullish momentum.
RSI and Volume: If RSI remains below the overbought zone (70), with strong volume backing the price rise, it suggests further upward potential.
Bearish Scenario – $97K Target:
Resistance Rejection: If Bitcoin fails to break above $100K (a psychological level) or key Fibonacci levels, selling pressure might dominate.
Divergences: A bearish divergence in RSI or MACD could indicate a loss of momentum.
Support Levels: $97K could serve as a retest zone if Bitcoin dips below support at $100K.
