Bitcoin (BTC) is facing one of its most crucial resistances: $100,000. This psychological and technical level is generating high expectations in the market, but does it have the strength to break it?
🔍 Technical Analysis
• Key Resistance: Currently, BTC is struggling to stay near $100,000, a level that, if surpassed, could trigger a bullish rally.
• RSI (Relative Strength Index): On the 4-hour chart, the RSI is at 64, indicating that there is still room for an upward movement before entering overbought territory.
• Low Volume: Although BTC shows strength, the volume remains limited, raising doubts about the sustainability of the current movement.
📉 Patterns and Key Factors
• Head and Shoulders: On the daily chart, a head and shoulders pattern is observed that could indicate bearish pressure if not invalidated with a strong close above $100,000.
• Altcoins on the Rise: The recent rally of altcoins could divert attention and capital from Bitcoin, affecting its ability to surpass this level.
🧐 What's Next for BTC?
For BTC to break above $100,000, it will be crucial:
1. See an increase in trading volume.
2. Break the resistance with daily confirmation.
3. Overcoming the high liquidation pressure at this level.
Meanwhile, opening long positions in this area represents considerable risk. Patience will be key.
Are we close to a new all-time high or will we see a correction before the next big movement? The market will decide.