Resistance
Immediate Resistance: 100,000
This is also a psychological barrier. If the price breaks this level, it could push higher.
Support
Immediate Support: 96,000
If the price drops below 98,500, the next strong support level could be around 96,000.
Technical Indicators
1. RSI (Relative Strength Index):
RSI is near 70, which indicates the market is in the overbought zone.
This suggests the price might retrace slightly or consolidate.
2. MACD (Moving Average Convergence Divergence):
MACD shows a bullish crossover, as the blue line has crossed above the orange line.
The histogram is green, indicating strong buying pressure.
3. Volume:
Volume is currently stable.
A breakout above 100,000 would require a candle closing with high volume for confirmation.
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Latest Fundamental Updates on Bitcoin
1. US Inflation Control:
With inflation under control in the US, Bitcoin could benefit as risk assets gain positive momentum.
2. Whale Activity:
Large wallets (whales) are actively buying, which could support the price moving higher.
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Key Levels to Watch:
Upside Breakout: Above 100,000
Downside Support: 98,500 and 96,000
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If the price breaks 100,000 with high volume, consider entering a bullish position.
If the price drops to 96,000, it could be a potential buy zone, but wait for confirmation from technical indicators.
