#BTCReclaims101K

Bitcoin's Rise Puzzle on Its Endless Journey (Technical Analysis)

A comprehensive analysis of Bitcoin's rise to $101,000 in the past few days. Bitcoin (BTC) has seen a significant increase in its value, reaching more than $101,000. This rise came after the inflation data for November was released, which showed that the inflation rate reached 2.7%, which is close to the target set by the US Federal Reserve.

Reasons for the Rise

Inflation With the rise in inflation, investors resort to assets that are considered a safe haven such as Bitcoin, which increases demand for them and raises their price.

Monetary Policies Expectations that the Federal Reserve may lower interest rates in the near future, which enhances the attractiveness of Bitcoin as an investment.

Many analysts believe that Bitcoin is in an upward phase, based on market indicators and historical analysis.

Technical Indicators Analysis:

Moving Averages (EMA)

EMA 7 • $100,389.58

EMA 25 • $99,181.36

These averages indicate that Bitcoin is in a strong upward trend, because the current price ($101,300.25) is higher than all of these moving averages.

Relative Strength Index (RSI)

The current RSI value is 43.42%, which indicates that the market is neither overbought nor oversold, and is in a neutral zone.

MACD Indicator