Currently, the price of Bitcoin is hovering between $105,025 and $105,269, the market is active, with a 24-hour trading volume of up to $82 billion, and the market capitalization has soared to $2.08 trillion. As Bitcoin breaks through $105,000, the market shows a strong bullish trend, reaching a historical high of $106,533.
Short-term Support and Resistance Analysis
Long-term Trends and Key Support Levels
Daily Chart: From the daily chart perspective, the overall trend of Bitcoin remains bullish, despite occasional fluctuations. $100,000 and $104,000 are key support levels currently, while $106,533 is an important resistance level. If Bitcoin breaks through $106,533 and maintains above this level, it may challenge $110,000. Long-term investors may consider seeking entry opportunities in the $104,000-$105,000 range.
Technical Indicators and Market Sentiment
RSI and Stochastic Indicators: Currently, the Relative Strength Index (RSI) is 69, nearing the overbought zone, and the stochastic indicator is 89, indicating that market sentiment is leaning towards neutral but is also close to the overbought area. Nevertheless, the momentum indicators and MACD still show a positive trend, suggesting a possible pullback in the short term, but the overall bullish trend remains unchanged.
Moving Averages: The moving averages across various periods (including 10, 20, 30, 50, 100, 200-day EMA and SMA) show strong bullish signals, indicating that Bitcoin still has upward potential at current levels.
Currently, the price of Bitcoin is hovering between $105,025 and $105,269, the market is active, with a 24-hour trading volume of up to $82 billion, and the market capitalization has soared to $2.08 trillion. As Bitcoin breaks through $105,000, the market shows a strong bullish trend, reaching a historical high of $106,533.
