Current Price: $108,031 24h Change: -0.95% 24h High / Low: $109,068 / $107,083
Market Structure:
BTC is currently trading between $107,000 and $110,000, suggesting consolidation after reaching its recent all-time high of $111,924 last week.
A bullish engulfing candlestick pattern on the weekly timeframe indicates strong upward momentum, potentially leading to another retest of the recent high.
Technical Indicators:
Moving Averages (MA): The 50-day MA has crossed above the 200-day MA, forming a golden cross, which is a strong bullish signal.
Relative Strength Index (RSI): Currently in the overbought zone, indicating a potential short-term correction.
MACD: Shows strong upward momentum, supporting the current bullish trend.
Support & Resistance Levels:
Immediate Support: $107,000
Key Resistance: $110,000
Outlook: The market is showing strong bullish behavior with BTC maintaining high levels. However, traders should be cautious of a possible short-term pullback due to overbought indicators. Watching the $107,000 support and $110,000 resistance will be essential for short-term strategies.
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📊 BTC/USDT Technical Analysis – May 29, 2025
Current Price: $108,031
24h Change: -0.95%
24h High / Low: $109,068 / $107,083
Market Structure:
BTC is currently trading between $107,000 and $110,000, suggesting consolidation after reaching its recent all-time high of $111,924 last week.
A bullish engulfing candlestick pattern on the weekly timeframe indicates strong upward momentum, potentially leading to another retest of the recent high.
Technical Indicators:
Moving Averages (MA): The 50-day MA has crossed above the 200-day MA, forming a golden cross, which is a strong bullish signal.
Relative Strength Index (RSI): Currently in the overbought zone, indicating a potential short-term correction.
MACD: Shows strong upward momentum, supporting the current bullish trend.
Support & Resistance Levels:
Immediate Support: $107,000
Key Resistance: $110,000
Outlook: The market is showing strong bullish behavior with BTC maintaining high levels. However, traders should be cautious of a possible short-term pullback due to overbought indicators. Watching the $107,000 support and $110,000 resistance will be essential for short-term strategies.
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