Bitcoin 4-Hour Analysis for Newcomers (January 18, 2025, 20:35 UTC)
Analysis:
1. Immediate Support and Resistance:
- Support: Near $102,000
- Resistance: Around $106,000
1. RSI (Relative Strength Index):
- RSI is above 60, indicating bullish momentum, but approaching the overbought zone (70+).
1. MACD (Moving Average Convergence Divergence):
- MACD is above the signal line, indicating a bullish crossover.
- The histogram is positive, but momentum is slowly decreasing.
1. Volume:
- Volume is stable, but significant breakouts will require more volume.
1. Fundamental News (BTC):
- Latest news: The market is pricing in the effects of the 2025 BTC halving.
- Regulatory issues and adoption updates are
impacting BTC prices.