Bitcoin (BTC) is currently trading around $103,150, attempting to push above the 50-period Exponential Moving Average (EMA50) on the 4-hour chart.
From a technical perspective, the Relative Strength Index (RSI) on the 4-hour timeframe remains in a neutral zone, suggesting that neither buying nor selling pressure is dominant at the moment. Meanwhile, the MACD indicator is beginning to form a positive crossover, hinting at a potential shift in short-term momentum toward the upside. If the bullish signal on the MACD gains strength, we could see renewed buying interest pushing prices higher in the coming sessions.
The immediate challenge for Bitcoin lies at the $107,500 resistance level, which has repeatedly triggered strong sell-offs during recent recovery attempts. A clean break and sustained move above this zone would be an early sign of strength, opening the door for a retest of the next major resistance near $109,000. This level represents a crucial breakout point—if BTC manages to close decisively above $109K, it could trigger a bullish continuation toward the $115,000 region, where the next significant supply zone awaits.
On the flip side, failure to overcome $107,500 or $109,000 could invite renewed selling pressure. Another rejection from either level would likely result in a correction toward the $98,000–$95,000 range, where previous demand zones could once again provide support. These areas would be key to watch for potential buying interest if the market retraces.
In summary, Bitcoin’s short-term outlook remains cautiously bullish as long as it holds above $100K, but the real test lies ahead. A breakout above $109,000 could reignite momentum toward $115,000, while another rejection from resistance may extend the current consolidation or trigger a deeper pullback. Traders should watch price action closely around EMA50 and $107,500, as these levels will determine BTC’s next major move.
___________________________________________________________________________________
Get Daily Crypto Updates & Trade Signals!
Join our free Telegram
channels for:
✅ Market updates
✅ Spot & Futures signals
Join now: 👇
Telegram:
Comments
Post a Comment