Analysis for $BTC
- Nearby resistance: Around 99,500.
- Important supports: Between 97,975 and 96,006 (0.5 retracement).
- The MACD shows a bullish crossover, which could indicate that buyers are regaining control. However, this type of indicator tends to lag, so it is important to wait for a clear confirmation of the breakout.
- Bullish breakout (breaks above the triangle resistance): If the BTC price manages to break upward above the key resistance level around 99,500, we could see a strong movement towards important psychological levels like $100,000. In this case, it is likely that the bullish momentum will accelerate and the next target will be resistance around 103,000. The volume must accompany this movement for it to be a solid breakout. An increase in volume would confirm a continuation of the bullish trend.
- Bearish breakout (breaks below the triangle support): If the price fails to overcome the resistance and falls below the triangle support, we could see a retracement towards 97,975, and subsequently towards the stronger level at 96,000. If this breakout is accompanied by an increase in selling volume, the next important support would be around 94,500.