Bitcoin (BTCUSD) Shows Increasing Buying Pressure

BTCUSD shows increasing buying pressure as the bulls aim for key resistance levels. BTCUSD experienced a market structure break (BOS) above $85,010, confirming an upward trend continuation. The price has bounced from a previous strong support level near $90,000, suggesting demand remains high. The price is currently consolidating around $100,000. If BTCUSD breaks $100,000, it could gain momentum toward the next resistance zone.

 

Buyers remain in control inasmuch as BTCUSD remains above the 9-SMA. A clear invalidation of the $100,000 resistance to the upside would likely push BTCUSD toward $108,400, followed by $115,000 in the short term. If momentum continues, the next key target is $125,000, where sellers may attempt to take profits. Any retracement could find support at $99,430, keeping the uptrend intact in favor of the bulls. Overall, BTCUSD remains bullish, with a high probability of reaching new highs.

 

BTC Key Level

Demand Levels: $100,000.0, $85,000.0, $66,800.0
Supply Levels: $108,400.0, $115,000.0, $125,000.0

What Are the Indicators Saying?

The 9-SMA at $99,430 is a dynamic support level, keeping BTCUSD above short-term moving averages. The Stochastic RSI at 37.71 signals a potential bullish reversal as it moves upwards from oversold territory. With the price consolidating about the $100,000 psychological level, momentum indicators suggest that an accumulation is currently ongoing. A clear breakout from the range and above the SMA will likely birth a massive surge upward.

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