$BTC
🔍 Technical Analysis of Bitcoin (BTC)
1. General Trend:
Current Trend: Bullish, with a historical high of $111,891 recorded on May 22, 2025.
Current Price: Approximately $109,543, with signs of slowing bullish momentum.
2. Support and Resistance Levels:
Support:
$107,000: Strong technical support.
$100,000: Important psychological support.
$92,000: Historical support and 50-day moving average level.
Resistance:
$112,000: Technical target based on a double bottom pattern.
$116,000 – $128,000: Major resistance range according to recent technical analysis.
3. Candlestick Analysis:
Recent candles indicate hesitation in bullish momentum, with a likelihood of correction towards $100,000.
4. Technical Indicators:
Relative Strength Index (RSI): Shows overbought conditions, suggesting a potential correction.
MACD: Indicates slowing bullish momentum.
Rate of Change (ROC): Shows bearish divergence, reinforcing the likelihood of a correction.
5. Volume Analysis:
Decrease in trading volume with rising prices, indicating weakness in bullish momentum.
6. Wave Analysis:
Current patterns suggest the completion of a bullish wave, with the potential start of a corrective wave.
