The price of Bitcoin has experienced a strong rebound in recent hours from the support area near 104,867$, currently reaching 105,491$ according to the Binance chart.
🔍 Key Technical Indicators:
The moving averages (EMA 20 and 50) have started to consolidate, enhancing the likelihood of continued upward movement in the short term.
The RSI indicator is above 70, indicating strong momentum, but we may face nearby resistance.
The MACD indicator has given a positive crossover with the bars remaining in the green zone, supporting the price's movement towards higher areas.
📊 Watch Zones:
Important Support: 105,000 – 104,800 dollars
Nearby Resistance: 105,900 – 106,200 dollars
💡 Short-term Trading Recommendation:
If the price manages to stay above 105,300$ with continued momentum, an increase towards 106,000 – 106,200$ can be expected.
If it breaks 105,000$ again, we expect to retest the strong support at 104,300 – 104,800$
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