#BTC107 | Advanced Technical Analysis for Bitcoin at $105
Bitcoin records $105,000 today, continuing its strong upward momentum after breaking through historical resistance levels. This level opens the door to price areas we have not reached before, increasing the importance of precise technical analysis.
Technical Analysis:
Overall Trend: Strongly bullish in the medium and long term.
Moving Averages: The price is above the EMA 50 and EMA 200, which reinforces the continuation of the positive trend.
RSI (14): At 74 – in the overbought zone, which may indicate a correction is near.
MACD: Strong bullish crossover, supporting the continuation of positive momentum.
Potential Pattern: Ascending channel, with the price currently at its upper limit.
Important Points:
Nearest Support: $101,500 then $98,000
Next Resistance: $110,000 then $117,500
Follow-up Strategy:
For day traders: Watch for a breakout above $106K to confirm ongoing upward movement.
For long-term investors: Hold and add positions on dips.
The market is in a sensitive phase – proceed with caution and decide wisely.
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