#Bitcoin 4-Hour Analysis...???
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Immediate Support: 97,500
Immediate Resistance: 100,000.
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RSI Analysis:
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The RSI on the 4-hour timeframe is above 60, indicating bullish momentum. However, it is approaching the overbought zone. If RSI nears 70, there could be a price correction.
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MACD Analysis:
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The MACD shows a bullish crossover (the blue line has crossed above the orange line), and the histogram is positive, signaling a bullish trend. However, the histogram bars are slightly declining, indicating a slowdown in momentum.
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Volume:
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Volume is stable but lacks a significant breakout. Until there is a volume spike, breaking through the 100K resistance may be challenging.
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Latest Fundamental News:
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Bitcoin adoption is increasing, especially from regions like China and Hong Kong. Institutions are also actively buying. However, the overall market could be influenced by upcoming US inflation data and the FOMC meeting.
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While the market appears bullish, breaking resistance will require strong buying pressure and increased volume.