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- Current price: ~$102,900.49 (at the time of writing this report).
- Trading range (12 hours): from $104,000 (temporary peak) to $71,200 (temporary bottom).
- Notable dates: Price movement from May 4 to May 19 with significant volatility.
🚀 Last bullish phase:
- Bitcoin reached a peak of $104,000 (🔼📈) in the past few days, reflecting buyers' (🟢 Bulls) confidence in the continuation of the uptrend.
- Why?
- Increased demand for cryptocurrencies as a hedge against inflation.
- Positive news about institutional adoption of Bitcoin.
⚠️ Current accumulation/correction phase:
- Current price: ~$102,900 (down from the peak).
- Signals:
- 📉 Gradual decline from $104,000 → $71,200 (🔴 Bears temporarily in control).
- Correction pattern: Could be a natural pullback after a sharp rise (🔄 Accumulation before resuming the rise).
- What does accumulation mean?
- Buyers (🟢) preparing to buy quantities at support levels (📌 $75,600 or $71,200).
- Sellers (🔴) trying to break support to push the price down further.
📊 Visual analysis from the image:
- Strong support areas:
- $71,200 → Critical level if the price drops further (🛑).
- Resistance areas:
- $115,000 and $104,000 → Need to break for the rise to continue (🚪).
- TradingView signal: The tool shows volatility between bulls and bears (⚔️ Battle of the trend).
🎯 Tips for traders:
1. Current trading:
- If the price rebounds from $71,200 → Buying opportunity (🟢 ENTRY).
- If it breaks $75,600 → Confirmation of continued decline (🔴 EXIT).
2. Use indicators:
- Moving averages to confirm the trend.
- RSI indicator to measure overbought/oversold levels.
🧠 Remember: Correction is not the end of the uptrend, but an opportunity for repositioning🌟
