📊 BTC/USDT – 1H Technical Overview



Current Price: $111,604
24h High / Low: $111,819 / $109,562

Market Structure:

BTC has broken above the previous resistance at $110,000, indicating strong bullish momentum.

The price is following a rising wedge pattern, which could suggest a potential reversal due to declining volume and overbought signals.

Key Technical Indicators:

Moving Averages: The 50-day moving average has crossed above the 200-day moving average, forming a "golden cross," which is typically a bullish signal.

Relative Strength Index (RSI): Currently in overbought territory, suggesting a possible short-term pullback.

MACD: Shows strong upward momentum, supporting the bullish trend.

Support and Resistance Levels:

Immediate Support: $107,000

Key Resistance: $115,000

Outlook: The market is exhibiting strong bullish behavior, with BTC reaching new highs. However, traders should be cautious of potential pullbacks due to overbought indicators. Monitoring support levels at $107,000 and resistance at $115,000 will be crucial for short-term trading decisions.
#BTC
#BTC Hits $110,000
#BTC Market Cap Hits ATH
#Is the Altcoin Rally Next?
BTC-1,67%
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JamesNguyenvip
· 05-23 00:20
Thank you for sharing, wish you a successful trading day.
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