Bitcoin Analysis Update
BTC's momentum remains strong after bouncing off the weekly 50 EMA, with our long position hitting all take-profits. The current daily candle sits above trendline resistance at $83.1k. Closing above this level could trigger a push toward the CME gap at $85.5k, aligning with 2-week liquidation levels and daily 200 EMA resistance.
Key levels to watch:
- Resistance: $86k, $89-90k, $95k, $100k, $106k, and the $108k trendline
- Support: $83k, $81k, $77-78k, $72-74k, and $69k
Indicators suggest potential reversal:
- RSI leveling out, indicating waning price strength
- StochRSI becoming overbought
Stay flexible and manage risk, especially over the weekend. We'll monitor for the next trade opportunity.
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