There have any sign for bullish!
Your answer is here #DYOR $BTC
Yes, there are some signs that a bullish momentum may develop, but it’s not fully confirmed yet. Let’s break it down:
Bullish Signs:
1. Price Above EMA(200):
• The BTC price remains well above the EMA(200) ($85,267), which is a strong bullish signal for the long-term trend.
2. Oversold Conditions (Wm %R and RSI):
• The Wm %R(14) at -95.31 indicates that BTC is in an oversold zone, which often leads to a rebound.
• The short-term RSI(6) at 33.17 is also nearing oversold levels, suggesting a potential reversal.
3. Support Holding Firm:
• BTC is holding above a strong support zone at $87,754 (24-hour low), indicating buyers are stepping in to defend this level.
4. Volume Support:
• The 24-hour volume (3.12B USDT) suggests healthy trading activity, which could support a potential bullish breakout if buyers dominate.
Signs of Caution (No Full Confirmation Yet):
1. MACD Bearish Momentum:
• The MACD line is below the signal line (DIF < DEA), and the histogram remains in the red zone, indicating short-term selling pressure.
2. Resistance at $93,265:
• BTC needs to break the $93,265 resistance to confirm a bullish continuation. Until this level is broken, consolidation or minor pullbacks are possible.
Key Levels to Watch for Bullish Confirmation:
1. A break and close above $93,265 would signal the start of a stronger bullish trend.
2. Sustained price action above EMA(20) ($90,822) can signal short-term strength.
Strategy: If you’re looking for bullish opportunities, watch for a breakout above $93,265 with increased volume. For now, monitor the support at $87,754 to ensure it holds firm.
