$BTC
šØ Bitcoin (BTC/USDT): Momentum Stalls at $98,475.92! šØ
Bitcoin $BTC is experiencing a slight pullback, down -0.14% at $98,475.92, with resistance at $108,353. Letās break down the key insights:
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š Technical Indicators:
1. Exponential Moving Averages (EMAs):
EMA(7): $98,021.78 and EMA(25): $97,810.09 are aligned with the current price, showing a lack of strong short-term momentum.
EMA(99): $84,473.76 suggests long-term support remains intact.
2. Stochastic RSI:
At 20.54, BTC is in the oversold zone, indicating a potential reversal or accumulation phase.
3. Volume:
Daily volume is relatively low at 22,923 BTC, reflecting a lack of strong buying or selling pressure.
4. Support and Resistance Levels:
Immediate support lies at $96,154, with resistance at $108,353.
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ā” Market Sentiment:
The short-term sentiment is cautious as BTC struggles to regain momentum after hitting the $108K high. Oversold conditions on the RSI suggest a bounce is possible, but sustained low volume could limit upside movement.
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š Outlook:
A break above $100,000 is critical to reignite bullish momentum.
If $BTC fails to hold above $96,000, further consolidation around $90,000 is likely.
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Investor Note: Watch for volume spikes and EMA crossovers to confirm trend direction. Bitcoin is at a pivotal pointāpatience and close monitoring are key!