Analysis $BTC 11/27/2024
#BTC, again above $96K and showing strength, of course, this Bitcoin recovery has already made 99% of the bearish charts of the people on the networks magically disappear lol, this is the usual magic. As I said yesterday, it is these moments that separate Investors from Adventurers. lol
Today we are seeing several good news that helped us rise here;
- Vancouver proposing to adopt BTC as a reserve.
- Texas wanting to be a hub for Cryptocurrencies.
- SOS rising 100% after announcing that it will buy BTC.
- Sanctions against Tornado Cash being recognized as illegal.
- Peace Agreement between Israel and its enemies.
- Good Economic Data
... anyway, I could mention countless reasons why we are doing well and going higher here, but I would just like to mention that most are not prepared for this bull market.
That said:
We had support in the gray area of the chart which was exactly where I expected it to be and mentioned yesterday, and we hit the $95K area hard. Today the bulls don't need much to go higher, they just need a close above $95K.
One thing I didn't particularly like here was the RSI which spiked quickly, I would like to see it slow down, to give us a chance to break $98,400 with clarity.
The orange circle on the chart just above the current price is where I will be interested in the price. Before we call $130K I would like to see the price work there and form some good price action.
It still looks good and even though the RSI behaved differently, I still think we have room, so send this to $100K before the weekend.
The big SELLERS are already starting to move to prices above $100K, if the big BUYERS feel weakness in the bulls at those prices, then we could see a quick attack to $105K, but first let's focus on the orange circle on the chart.
* If you have any questions, don't hesitate, go to my INSTA (it's in the fixed image of my profile here), call me and ask your question.
