$BTC Bitcoin price Bullish or Bearish ?
đ„ Based on provided (from Binance, 1-day time frame), here's a technical analysis to determine whether the market sentiment is bullish or bearish:
â Bullish Signals:
1. Higher Highs and Higher Lows:
Price moved from a low of âč92,800 to a high of âč111,980, which forms a clear uptrend.
2. Price Above Key EMAs:
The current price (âč108,787.91) is above the EMA(7), EMA(25), and EMA(99). This is a classic bullish signal suggesting momentum is still on the upside.
EMA(7): âč108,536.02
EMA(25): âč104,336.24
EMA(99): âč95,321.36
3. Strong Breakout from Resistance:
The breakout above the âč97,271 and âč102,493 resistance levels suggests strength. These levels are now acting as support.
4. Volume Confirmation:
Volume bars are relatively strong during the move upward, confirming buyers were active during the breakout.
â ïž Mild Bearish/Neutral Caution:
1. Rejection Near Highs:
Price was rejected near âč111,980, indicating some short-term resistance or profit-taking.
2. Doji-like Candles Near Resistance:
Recent candles show indecision (long wicks and smaller bodies), which might indicate consolidation or a short-term pause.
đ Overall Conclusion:
This chart is currently BULLISH.
However, a minor consolidation or pullback could happen due to resistance near âč111,980. As long as the price stays above âč102,493 (support), the bullish trend remains intact.
