Currently, Bitcoin is trading around $102,998, down slightly by 0.77% over the last 24 hours. Despite this, it still maintains a respectable increase of 36% from its lowest price in April ($74,500).
Key technical points:
• The price is facing strong resistance at $105,000 and still hasn't been able to break through.
• RSI indicator
at 65.89, which means the price is entering the 'overbought' zone.
• The MACD indicator gives us a bearish signal, with clear selling pressure.
• Moving averages: The 50-day exponential average is around $90,988, and the 200-day simple average is around $92,463.
• Support and resistance: Strong support at 100,000, and strong resistance at 105,000.
Liquidity and demand:
• Daily trading volume: above $23 billion.
• Demand depth: There is clear and significant demand around 100,000, and this is a point we need to monitor closely.
General context:
• Important news: Panama has started accepting Bitcoin for tax payments – a significant step supporting its adoption.
• Bitcoin ETFs have seen a 90% decrease in inflows, but there is strong activity from large buyers – momentum is still present.
• Market sentiment? Greed is prevailing! This reflects a positive outlook from traders.
Final assessment:
The outlook is positive – if it can break the 105,000 resistance, we might see a quick trip towards 150,000… especially with the return of institutional interest.
If you're thinking about entering short trading:
• Watch levels below 100,000 for entry.
• Start thinking about exiting after breaking 106,000.
Important warning: The market is volatile… your decision is your responsibility!
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