#BTC As of December 7, 2024, Bitcoin (BTC) is trading at around 99,688 USD, up 2.35% from its previous close.
BTC/USDT Technical Analysis:
Moving Averages: All major periods (MA5 to MA200) are showing buy signals, indicating a strong bullish trend.
RSI (14) Indicator: The RSI value is at 65.645, approaching the overbought zone, which could signal a potential price correction in the short term.
MACD (12.26): The MACD value is positive at 191.3, indicating continued bullish momentum.
BTC/USDT Fundamental Analysis:
Government Policy: Donald Trump's victory in the recent US presidential election has pushed Bitcoin prices to record highs, fueled by hopes of more crypto-friendly regulations.
Global Economic Conditions: Economic uncertainty in China has driven investors to look for alternatives such as Bitcoin, increasing the demand and price of this digital asset.
Conclusion:
Technical analysis shows a strong bullish trend for BTC/USDT, supported by key indicators. Fundamentally, global political and economic developments have positively contributed to the rise in Bitcoin prices. However, investors should remain vigilant about potential volatility and conduct in-depth analysis before making investment decisions.
