#BTC120K
🎯Bitcoin is moving within a consolidation range between $102,000 and $112,000 while testing the level of $109,288, supported by strong factors:
🔴 The impact from Exchange-Traded Funds (ETF): Inflows of $13 billion since the beginning of the year, with an addition of 18,476 Bitcoins in early July.
🔴 Supply shortage: Exchange reserves are at their lowest level in 7 years, with 86% of coins held off exchanges.
🔴 Macroeconomic factors: Uncertainty in Federal Reserve policy increases Bitcoin's appeal as a hedge against inflation.
🤔 Technical outlook indicates bullish momentum with a positive MACD indicator (at 51.85%) while maintaining the important support level of $105,000. A breakout above $112,000 could lead to further upward movement towards levels of $115,000 - $116,000. Community insights remain positive (80.57%) with a focus on:
• Liquidity in ETFs
• Technical patterns
• Investor patience
⚠️⚠️ It is advisable to consider entering long-term positions near the levels of $107,000 - $108,500 while monitoring key resistance levels and ETF inflows to confirm the movement.
