Stand before the chart now, and you'll see that Bitcoin is breathing at $104,500, like a bull preparing to leap. Yes, it's dipped slightly (0.06%), but don't be fooled – liquidity is high ($304 million!), as if the market is accumulating energy.
Moving Averages Hold Their Grip:
* $104,000 (25-day average) acts as solid ground – whenever the price approaches it, major players buy as if it were a magnet.
* But above us, there's an iron ceiling at $106,600 (99-day average) – breaking this requires rocket power.
Indicators Whisper Contradictions:
* MACD screams: "Buy!" – strong upward momentum like a tidal wave.
* But the RSI at 67 warns: "Beware, we're overbought!" – like a car speeding with the fuel gauge nearing empty.
Scenarios on the Table:
* If the price bounces from $104,000 (as it did 3 times today):
* It will first head towards $105,000, then $106,000 as a final target.
* Entry here: Buy at $104,300, with a stop-loss below $103,900 (0.4% risk).
* If $104,000 shatters like glass:
* The drop will be as swift as a reverse rocket – the first stop is $103,100 (today's low).
* Entry: Short sell at $103,900, stop-loss above $105,200.
* The Ball is Now in the Bulls' Court:
* If they push the price above $105,000 with significant trading volume, we'll see a bullish celebration.
* But if they fail before $106,600, the bears will swoop in like eagles.
The Smart Trader Holds Their Hands Together:
* The right hand buys at $104,000 (with a stop-loss).
* The left hand prepares a sell order at $106,000.
* The portfolio holder waits for a break above $106,600 to deploy all their capital, or a fall below $103,000 to escape like the wind.
This is a technical market analysis and not financial advice
