Hey Binance Square Family! 👋
Bitcoin (BTC) is currently trading at $109,707, experiencing a slight dip of 0.07% in the last 24 hours. After reaching an all-time high of $112,000 on May 22, 2025, BTC is showing signs of consolidation.
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🔍 Technical Analysis: 1-Hour Chart Insights
Recent analysis suggests that BTC may be entering a consolidation phase, potentially leading to a short-term pullback.
Key Technical Indicators:
RSI (14): Neutral, indicating neither overbought nor oversold conditions.
MACD: Approaching a bearish crossover, suggesting potential downward momentum.
ADX (14): Indicates weakening trend strength.
These indicators suggest caution, as BTC may experience a short-term correction before resuming its upward trend.
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📊 Support & Resistance Levels
Immediate Resistance: $110,400
Immediate Support: $107,510
Pivot Point: $109,707
A break above the immediate resistance could signal a continuation of the upward trend, while a drop below support may indicate a deeper pullback.
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📈 Trading Strategy
Bullish Scenario: If BTC breaks above $110,400 with strong volume, consider entering a long position targeting $112,000 and beyond.
Bearish Scenario: A drop below $107,510 may signal a short-term pullback, with potential support at $105,000.
Risk Management: Always set stop-loss orders to manage potential losses.
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BTC is at a pivotal point—will it break through resistance or face another rejection? Share your thoughts and strategies below! 👇
#Bitco in #BTC #CryptoTrading #BinanceSquare #Write2Earn
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