$BTC
Technical Analysis
Key Levels: Bitcoin faces strong resistance between $112,000 and $114,000. The price has failed to break through this area, indicating a likelihood of continued selling pressure if it is not surpassed.
Technical Indicators: Some indicators suggest buy signals, such as the convergence of market behavior with positive chart patterns. However, other indicators like the Relative Strength Index (RSI) show divergence that may indicate weakness in upward momentum.
Fundamental Factors
Institutional and Retail Accumulation: The market is witnessing an increase in Bitcoin accumulation by individual and institutional investors, which could pave the way for a potential price explosion.
U.S. Strategic Reserve: The United States has announced the establishment of a strategic Bitcoin reserve, enhancing the currency's status as a reserve asset.
Future Outlook
Bullish Scenario: If Bitcoin can break through the $114,000 level, it may head towards $120,000.
Bearish Scenario: If the support level at $100,000 is lost, the market may see further decline.
Summary
Bitcoin is going through a critical phase between consolidation and price explosion. It is important to monitor key support and resistance levels, along with tracking institutional and retail accumulation, to determine the future direction.
