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🔍 Bitcoin (BTC) analysis
Current price: Bitcoin is currently trading at around $101,066, recording an increase of 2.5% over the past 24 hours.
Moving averages: The price remains above the 20-day exponential moving average ($93,091), indicating a continued bullish structure.
Resistances and supports:
Immediate resistance: $97,895; breaking this level may push the price towards $98,000 then $100,000.
Nearby support: $94,160; breaking it may lead to retesting levels of $90,000 then $85,000.
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📊 General trends in the cryptocurrency market
Bullish momentum: Data indicates an increase in Bitcoin's perceived value to a record level of $891 billion, reflecting investor confidence and continued capital inflows.
Altcoins: Some altcoins like 'POPCAT' and 'TRUMP' are experiencing significant increases, supported by specific events and growing interest from investors.
Technical analysis: The Relative Strength Index (RSI) shows signs of weakening bullish momentum, which may indicate the likelihood of a price correction in the short term.
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✅ Recommendations for investors
Long-term investors: It may be appropriate to continue holding Bitcoin and fundamentally strong currencies while monitoring key technical levels.
Short-term traders: It is advisable to monitor the mentioned support and resistance levels and use appropriate risk management strategies to avoid potential losses.
