* Short-term moving averages (MA5, MA10) are trending above the long-term moving average (MA30) and are all sloping upwards. This is a classic bullish signal that the current rally is strong and could continue. * The MACD indicator is in positive territory and the DIF line is well above the DEA line. This shows that the buying momentum is strong and continuing to increase. * The price has managed to stay above important support levels. * Proximity to Local Highs: The price is close to the 24-hour high (106,792.5) and the potential next resistance (107,651.8). Profit-taking or selling pressure may come at these levels.
Conclusion: Technical indicators and price action generally support a LONG position. Accordingly, Entry: 106,000 - 106,300 USDT (on pullbacks) or on a breakout above 106,792.5 USDT. * Target 1: 108,650 - 108,800 USDT.
* Target 2: 110,000 - 111,000 USDT (longer term and requires additional analysis).
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
#BTC SUPPLY BUYING AND SELLING
* Short-term moving averages (MA5, MA10) are trending above the long-term moving average (MA30) and are all sloping upwards. This is a classic bullish signal that the current rally is strong and could continue.
* The MACD indicator is in positive territory and the DIF line is well above the DEA line. This shows that the buying momentum is strong and continuing to increase.
* The price has managed to stay above important support levels.
* Proximity to Local Highs: The price is close to the 24-hour high (106,792.5) and the potential next resistance (107,651.8). Profit-taking or selling pressure may come at these levels.
Conclusion: Technical indicators and price action generally support a LONG position. Accordingly, Entry: 106,000 - 106,300 USDT (on pullbacks) or on a breakout above 106,792.5 USDT.
* Target 1: 108,650 - 108,800 USDT.
* Target 2: 110,000 - 111,000 USDT (longer term and requires additional analysis).
* Stop-Loss: 105,000 USDT or below 103,000 USDT.