Bitcoin delivered a Christmas milestone, breaking 100K on multiple exchanges. However, we now find ourselves in a land of limbo, with BTC trending between key pivot levels and no clear confirmation of the next major direction.
Daily Chart Insights
📈 Momentum Turning Bullish
MACD: Flipping bullish, signalling potential strength in the trend.
RSI & Stochastic RSI: Both indicators suggest growing bullish momentum, showing signs of a reversal in market sentiment.
🔥 EMA Ribbon Recovery
Bitcoin’s daily candle has broken above the EMA ribbon, a key resistance zone, indicating that upward movement could gain traction if this trend holds.
Outlook
BTC's ability to maintain its position above the EMA ribbon and push past $100,800 will be pivotal in determining whether the bulls can regain full control. If successful, the next key level to watch is $105,720, leading to Pathway 1 for further gains.🎯
The market sentiment is improving, but caution is key while BTC trends in this zone. Let’s see where the holiday momentum takes us! 🎁
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