🧠 Fundamental Factors Affecting
The Weakening of the USD: The US dollar has fallen to its lowest level in two weeks against the Japanese yen, due to concerns about the financial situation in the United States and disappointing results from the 20-year bond auction.
Concerns About US Finances: Moody's downgrade of the US credit rating has raised concerns about the country's financial ability, prompting investors to seek alternative assets such as Bitcoin.
Capital Flow From Institutional Investors: Bitcoin ETF funds attracted net inflows of up to $3.6 billion in May, indicating growing interest from institutional investors.
📊 BTC/USD Analysis
Nearest Resistance: $112,000
Nearest Support: $108,000
RSI Indicator (14): Approaching overbought territory, indicating strong upward momentum but caution is needed for potential corrections.
MACD: Buy signal remains, but the slope is starting to decrease, indicating that upward momentum may be weakening.
The technical chart shows that the upward trend is still maintained, but investors should be cautious of short-term correction possibilities.
🎯 Trading Strategy
Buy (Long):
Entry: $108,000 – $109,000
Take Profit (TP): $112,000
Stop Loss (SL): $106,000
Sell (Short) (if reversal signal appears):
Entry: Below $108,000
Take Profit (TP): $105,000
Stop Loss (SL): $110,000
🔮 Short-term Outlook
With the weakening of the USD and concerns about the financial situation in the United States, Bitcoin may continue its upward trend in the short term.
#Write2Earn #BTC☀ #Market_Update
