Bitcoin (BTC) is currently trading at $90,560, showing a 2.63% increase in the last 24 hours. Here’s a breakdown of the key indicators:
1. Moving Averages:
• The EMA(20) at $90,822 and EMA(50) at $90,132 are relatively close, indicating a possible consolidation phase.
• The price staying above the EMA(200) ($85,267) reflects that the long-term trend remains bullish.
2. MACD:
• The MACD histogram shows bearish momentum with DIF below DEA and the MACD line at -147.07. This could suggest short-term selling pressure.
3. RSI (Relative Strength Index):
• Short-term RSI(6) is at 33.17, indicating the asset is approaching oversold conditions.
• RSI(12) and RSI(24) values at 46.88 and 52.14 show mixed signals, leaning toward neutral sentiment.
4. Williams %R:
• The Wm %R(14) is at -95.31, confirming oversold conditions and a potential bounce-back.
5. Support and Resistance:
• Immediate support lies at $87,754, the 24-hour low.
• Resistance is around $93,265, which BTC needs to break to confirm upward momentum.
Conclusion:
While the long-term trend remains bullish, short-term indicators suggest some consolidation or slight bearish pressure. Traders should watch for a breakout above $93,265 or a dip below $87,754 to determine BTC’s next move.
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