📰 Quick technical overview
• Current price: Approximately 106,400 USD, up over 3% in just the last 24 hours.
• Composite signal: Among 25 technical indicators, up to 78% support the upward trend, while only 22% indicate a downward trend.
👁️🗨️ Detailed analysis of technical indicators
1. Moving Average (MA)
• MA50: BTC price is above the MA50 line – a positive sign for the short-term trend.
• MA200: Price remains above MA200 – indicating that the long-term trend continues to be strong.
2. Relative Strength Index (RSI)
• The 14-day RSI is high and near the overbought zone – strong upward momentum but may soon see a slight correction.
3. MACD (Moving Average Convergence Divergence)
• MACD is in an upward trend with the MACD line above the signal line – indicating that market momentum remains positive.
4. Chart patterns
• The Pennant pattern has been broken upwards, reinforcing the possibility that prices will continue to rise.
📌 Notable support and resistance levels
• Resistance:
• 107,000 USD: If this threshold is surpassed, BTC could move towards the 110,000 range.
• 115,000 USD: The next resistance level if the upward momentum continues.
• Support:
• 92,000 USD: Important support level if prices correct.
• 85,000 USD: Deeper support in case of strong market fluctuations.
⚠️ Warnings & Risks to note
• RSI divergence: The weekly RSI shows signs of bearish divergence, which may indicate waning upward momentum.
• Trading volume: Trading is below average – this may indicate that buying pressure is not as strong as before.
✅ Conclusion
Bitcoin is currently showing a clear upward trend supported by MA, RSI, and MACD. However, investors should remain cautious of some warning signals such as RSI divergence and weak trading volume. Closely monitoring support and resistance levels will help you make informed and safer investment decisions.
Note: This is for reference only, not financial advice.