(Current chart: 1-day candles)
Bitcoin is currently trading at 118,207 USDT. The daily opening was at 117,925, with an intraday high of 118,371 and a low of 117,613, indicating an active and volatile market.
๐ช RSI is at 66, showing strong upward momentum while still below the overbought threshold. Buyers are clearly in control, but the proximity to overbought territory suggests caution as a pullback could be triggered soon.
โก ADX stands at 28, reflecting a solid trend strengthโneither weak nor overly dominant. This moderate trend indicates a cautious but persistent bullish move, possibly preparing for a stronger rally.
๐ ROC (Rate of Change) shows a +0.23% increase, a mild bullish impulse suggesting that the current upward trend could sustain through the week.
๐ OBV (On-Balance Volume) is trending upward, confirming that trading volume is supporting the price movement. This adds credibility to the ongoing rally and suggests a healthy buying interest.
โ๏ธ ATR (Average True Range) is at 2,879, signaling moderate volatility. While extreme price swings arenโt expected, daily fluctuations remain meaningful and should be monitored closely.
๐ฉ Warning: There are negative divergence signals on the 1-day, 3-day, and 1-week charts. These indicate a weakening momentum despite rising pricesโan early sign of a potential correction.
๐ฎ Price Forecast Scenarios:
Bearish Scenario (8.21% probability):
Bottom price: 113,856 USDT
Expected close: 114,940 USDT
Signals a short-term correction phase
Bullish Scenario (91.79% probability):
Support at: 117,392 USDT
Target high: 121,420 USDT
Expected close: 118,510 USDT
Suggests trend continuation with strength
๐ Summary:
Bitcoin is in a bullish posture backed by momentum and volume, but multiple timeframe negative divergences act as a warning sign โ ๏ธ. While the rally may continue, a brief pullback cannot be ruled out. The market remains healthy with moderate volatility, yet a cautious approach is advised.
๐จ This is a technical analysis and does not constitute financial advice. Always perform your own risk assessment before making trading decisions.
#Bitcoin #BTC #Crypto #TechnicalAnalysis ๐๐โ ๏ธ
