Good evening to Brazilians and Good morning to Asia, here is a summary of my analysis: it will serve for the daily candle that started today 01/08/2025 9pm Brazil, I still say that $BTC will break 108k soon, signals below my fundamental analysis, I'm not here to lose, I've been through several crises in this market, euphoria and meltdown, I was smart and reset my positions at the beginning of 2022, then fixed income, there was the FTX bankruptcy that took BTC to 16k and mid-2023 I started to build my pre-halving position by accumulating, selling, buying back, diversifying positions and cryptos and so I'm prepared for the 3rd wave of growth that will begin.
1. Recent Movement:
$BTC made a significant rally, going from $91,000 to $103,000. It then corrected, falling to a low of $92,500, before showing signs of recovery.
2. Candles and Reversal Signals:
The candles show relatively long lower wicks, which may indicate that there is buying strength at the support zones, suggesting potential for a reversal or at least a stabilization.
3. Moving Average:
It appears that the price is close to relevant moving averages (possibly 20 and 50 period), which often act as support/resistance. The position of the price relative to these averages will be crucial in determining the continuation of the move.
4. Support and Resistance Indicators:
Major Support: Identified around $92,500, which was the recent low.
Resistances: Stand out at $95,340, with higher resistance around $100,900 and $103,000.
5. Volume:
Buying volume is relatively balanced with selling volume (50.61% vs. 49.39%), indicating a possible accumulation period before a more significant breakout.
6. General Trend:
Despite the correction, the medium to long-term trend appears upward, with an appreciation of 56.6% in the last 90 days and more than 100% in the last year.
Conclusion:
The chart suggests that Bitcoin is testing important support levels, with the potential to resume its upward movement. To confirm this hypothesis, a close above the immediate resistances ($95,340 and $100,900) will be necessary. Should it lose the support at $92,500, it could seek lower levels before finding new buying strength.
