🟩 Technical Analysis for Bitcoin (BTC)

📍 Current Price: $108,530

🧠 Technical Analysis:

🔸 Overall Trend:

Bitcoin is currently in a strong upward trend on the larger time frames, especially after breaking historical resistance levels at $100,000, which has given a boost to buyers.

🔸 Near Support:

$105,000 → Short-term support.

$100,000 → Very strong psychological support, with huge buy orders accumulated there.

🔸 Next Resistance:

$110,000 → Psychological and technical resistance.

$112,800 → Secondary resistance based on previous movement.

🔸 Technical Indicators:

RSI close to 70 → Possible overbought condition that may lead to a slight correction.

MACD is still positive but nearing a potential bearish crossover which may lead to a short-term correction.

📌 Near-term Expectations:

If it holds above 108K → We might see a quick test of 110K then 112.8K.

But if there is a clear break below 105K → The correction might drop to 100K to test the strong support.