Technical Analysis
Price Action: Bitcoin is consolidating around $105,000–$108,000 after a sharp rally from April lows (~$74,000) and a peak near $112,000. A recent 3% correction was driven by profit-taking, with BTC stabilising near $106,000.
Trend: Medium-term trend remains bullish, but momentum is slowing. BTC has broken the previous resistance , indicating a potential slower rise or horizontal movement.
Note : Indicator MACD making bearish diversions in my view its not strong .
Key Levels:
Support: ~$102,600–$103,500 (recently tested)
Resistance: ~$106,000 (current resistance) and $110,500–$123,000 (next major target).
-- Disclaimer --
This analysis is based on recent technical data and market sentiment from web sources. It is for informational purposes only and not financial advice. Trading involves high risks, and past performance does not guarantee future results. Always conduct your own research or consult a SEBI-registered advisor before trading.
#Boost and comment will be highly appreciated
Price Action: Bitcoin is consolidating around $105,000–$108,000 after a sharp rally from April lows (~$74,000) and a peak near $112,000. A recent 3% correction was driven by profit-taking, with BTC stabilising near $106,000.
Trend: Medium-term trend remains bullish, but momentum is slowing. BTC has broken the previous resistance , indicating a potential slower rise or horizontal movement.
Note : Indicator MACD making bearish diversions in my view its not strong .
Key Levels:
Support: ~$102,600–$103,500 (recently tested)
Resistance: ~$106,000 (current resistance) and $110,500–$123,000 (next major target).
-- Disclaimer --
This analysis is based on recent technical data and market sentiment from web sources. It is for informational purposes only and not financial advice. Trading involves high risks, and past performance does not guarantee future results. Always conduct your own research or consult a SEBI-registered advisor before trading.
#Boost and comment will be highly appreciated
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