🪙🪙 #bitcoin 🪙🪙
As of January 27, 2025, Bitcoin (BTC) is trading around $102,831, having reached an intraday high of $102,905 and a low of $99,376.
Daily Technical Analysis:📉📊
General Trend: In the daily chart, BTC maintains an upward trend, characterized by higher highs and higher lows.
✅Moving Averages: The 50-period exponential moving average (EMA) is above the 200-period EMA since March 2023, reinforcing the bullish outlook.
📶MACD: The MACD histogram shows expanding green bars, indicating bullish momentum. The MACD lines have crossed upward, confirming this signal.
🔛Supports and Resistances:
Key Resistance: $106,000, where profit-taking has been observed by traders.
Strong Support: $92,000, a level that has acted as support in recent pullbacks.
📥Entry Strategy:
Given the current context, a strategy could be to wait for a pullback towards the support between $92,000 to $97,000 to consider a long entry, as long as the price shows signs of recovery at that level. It is essential to monitor indicators such as the MACD and RSI to confirm the strength of the move before making a decision.
Conclusion:
Bitcoin maintains a bullish technical structure on the daily timeframe. However, it is crucial to pay attention to the mentioned support and resistance levels, as well as to the signals from technical indicators, to identify optimal entry opportunities and manage risk appropriately.