Technical Analysis for Bitcoin | Bullish Sentiments

Market Overview
Current Price: $99,317.30
24-hour High: $99,754.45
24-hour Low: $97,860.44
Percentage Change: +1.02%

Key Observations
Bollinger Bands
The price is approaching the upper Bollinger Band, indicating potential resistance near $100,980.80. This suggests that BTC may either face selling pressure or break out further if momentum strengthens.
Trend Reversal Signal
Bitcoin has recently shown bullish momentum, recovering from the lower Bollinger Band support level of $92,123.77.
Volume Analysis
The bullish candles suggest increased buying interest, though confirmation of a breakout will depend on volume sustainability.

Support and Resistance Levels

Support Levels
Primary Support: $96,552.29 (midline of Bollinger Bands)
Secondary Support: $92,123.77 (lower Bollinger Band)

Resistance Levels
Primary Resistance: $100,980.80 (upper Bollinger Band)
Secondary Resistance: $105,000 (psychological level and previous swing high)

Bullish Sentiments
Upward Momentum: Bitcoin is forming higher lows, signaling a bullish trend continuation.

EMA/Midline Crossing: The price has moved above the midline of the Bollinger Bands, a strong bullish indicator.
Psychological Level at $100K: A breakout above $100,980.80 could lead to a rally, as $100K acts as a key psychological milestone for traders.
Bearish Risks

If $BTC fails to break above $100,980.80, it may retrace toward $96,552.29 or lower.
A breakdown below $92,123.77 could invalidate the bullish momentum, leading to a deeper correction.

Conclusion
Short-term View: BTC is on track to test $100,980.80. A close above this level could confirm a breakout and push the price toward $105,000.
Medium-term View: Sustained bullish momentum could take Bitcoin to $110,000, while failure to hold $96,552.29 support may lead to consolidation around $92,000.
Sentiment: Bullish bias, with buyers dominating the market as BTC nears the critical $100K milestone.
#BitcoinHashRateSurge #Bitcoin #Write2Earn $BTC