📊 Market Overview:
• Bitcoin trades around $109,350, with an intraday high near $109,610
• Rosenberg Research notes BTC could rally ~6% to clear $114,000, potentially triggering a 25% rise to $143,000 on the back of ETF inflows, a weaker dollar, and Fed rate cut expectations
📉 Technical Analysis:
•Key Resistance: ~$114,000; followed by the psychological $112,000 zone .
•Nearest Support: $107,000 (prior highs/descending channel bottom) and key floor at $100,000
•EMA Levels:
o Price consolidates near 50-day EMA ($105,800), a crucial confluence zone
•Candlestick/Momentum:
o RSI near 50 (neutral),
o Flag pattern breakout suggests continuation potential
📌 Viewpoint:
Bitcoin may extend its rally if it breaks above $114,000, targeting $137,000–$143,000. If rejected, a pullback toward $107,000 is likely before bouncing.
💡 Suggested Trading Strategy
SELL BTC/USD at: $113,500–$114,000
🎯 TP: $110,000–$110,500
❌ SL: $114,500
BUY BTC/USD at: $107,000–$108,000
🎯 TP: $112,000–$113,000
❌ SL: $106,000
• Bitcoin trades around $109,350, with an intraday high near $109,610
• Rosenberg Research notes BTC could rally ~6% to clear $114,000, potentially triggering a 25% rise to $143,000 on the back of ETF inflows, a weaker dollar, and Fed rate cut expectations
📉 Technical Analysis:
•Key Resistance: ~$114,000; followed by the psychological $112,000 zone .
•Nearest Support: $107,000 (prior highs/descending channel bottom) and key floor at $100,000
•EMA Levels:
o Price consolidates near 50-day EMA ($105,800), a crucial confluence zone
•Candlestick/Momentum:
o RSI near 50 (neutral),
o Flag pattern breakout suggests continuation potential
📌 Viewpoint:
Bitcoin may extend its rally if it breaks above $114,000, targeting $137,000–$143,000. If rejected, a pullback toward $107,000 is likely before bouncing.
💡 Suggested Trading Strategy
SELL BTC/USD at: $113,500–$114,000
🎯 TP: $110,000–$110,500
❌ SL: $114,500
BUY BTC/USD at: $107,000–$108,000
🎯 TP: $112,000–$113,000
❌ SL: $106,000
Trade active
Bitcoin could reach a new all-time high (ATH) in the near futureTrade closed: target reached
The price of Bitcoin has not shown strong signs of increasing this week; however, the signals for a rise towards the $114k range are still present.
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Disclaimer
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📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.