📈 Bitcoin Price Update:
BTC is currently trading around $105,000, up by 4% in the last 24 hours. Here's what the charts are saying:
Key Levels to Watch:
Support: $102,000 – This level aligns with the 50-day moving average, acting as a strong base for buyers.Resistance: $108,500 – Bitcoin needs to break this psychological barrier for the next leg up.
Indicators:
RSI (Relative Strength Index):
The RSI is hovering at 68, indicating bullish momentum but nearing overbought levels.MACD (Moving Average Convergence Divergence):
The MACD just crossed above the signal line, confirming a bullish trend continuation.
Trendlines:
Bitcoin is trading within an ascending channel, with higher highs and higher lows signaling an uptrend.If BTC breaks out above $108,500, the next target could be $110,000, followed by $115,000.
Potential Scenarios:
Bullish Case:A breakout above $108,500 could lead to a rapid rally to $110K or beyond.Bearish Case:If BTC loses the $102K support, we could see a pullback to $98,000.
What’s Next?
With the current momentum and market sentiment, BTC is positioned for further gains. Keep an eye on volume—if it spikes, a breakout is likely imminent.
💬 What’s your BTC price prediction for February? Drop your thoughts below!