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#BTC Chart Analysis
Support and Resistance:
* Support: The most obvious support level is around the $106,000 - $106,261 band. Below, the $103,238 and $98,200 levels appear to be important supports. The $98,200 level in particular can be considered a strong support as it is the starting point of the recent rise.
* Resistance: The nearest resistance level is around $108,276. This level is the last peak. If this level is broken, the next target could be around $109,284. The 24-hour high is stated as $108,162.2.
Moving Averages (MA):
* MA5 (107,337.2), MA10 (107,480.2) and MA30 (104,989.6) values are shown.
* The price is trading above or very close to the short-term moving averages (MA5, MA10). This may indicate a neutral or slightly bullish trend in the short term.
* There is no close below the MA30 (long-term trend indicator) yet. The fact that the price is well above the MA30 indicates that the medium-term uptrend is still valid. However, in the recent correction, the price has come close to crossing the short-term MAs to the downside, which may indicate some loss of momentum.
MACD (Moving Average Convergence Divergence):
* The MACD indicator is located below the chart. The MACD values (12,26,9) are given as MACD: -42.0, DIF: 950.4, DEA: 992.5.
* The DIF (Blue Line) and DEA (Orange Line) are trading close to each other. In the last section, it is seen that the DIF has started to move below the DEA. This may be a bearish signal indicating that the momentum is decreasing and the selling pressure is increasing. The MACD histogram is also moving into the negative territory.
In summary:
Bitcoin is in a strong uptrend but is in a slight correction from its recent peak. Its closeness to the short-term moving averages and the emergence of bearish signals in the MACD may indicate a loss of momentum and a potential continuation of correction. Persistence above the $106,000 level will be important for the continuation of the uptrend. If this support is broken, deeper corrections may be seen. A close above $108,276 will strengthen the uptrend.