Bitcoin is experiencing some minor fluctuations today. #Btc
Here’s a look at the current analyses:
Current price: around $103,900 - $104,300 USD.
Change in the last 24 hours: a slight decline ranging between 0.2% and 0.7%.
Key points in the analysis:
* General trend: In the medium to long term, the trend remains bullish, as Bitcoin's price trades above the upward-sloping 50-day moving average.
* Near resistance: There is near resistance at the $105,500 level. Breaking this level could push the price towards higher levels.
* Near support: There is support around the $103,600 level.
* Relative Strength Index (RSI): It swings near the neutral zone, indicating that the price may remain in this range for a while. Some analyses suggest there may be slight weakness due to short-term bearish divergence.
* Whale movements: Significant movements of Bitcoin whales have been observed, including a large short position opened on May 5 at an entry price of approximately $94,588, which is now in profit. Large whale movements should be monitored as they may impact the market.
* ETF inflows: Bitcoin ETFs in the United States saw strong net inflows last week, indicating institutional confidence.
* News: There is market optimism due to news of a potential trade deal between the United States and China, which could boost institutional confidence in Bitcoin.
Summary:
Bitcoin seems to maintain its gains above the $100,000 level, with an upward trend in the medium to long term. However, there are some signs of slowing momentum in the short term, and we may see some minor corrections before attempting to break higher resistance levels. It is important to monitor key support and resistance levels, whale movements, and economic news that may impact the market.
