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Bitcoinis holding steady above its 50-day Simple Moving Average (SMA), showing signs of underlying strength despite a lack of clear directional momentum. With rising trading volume and mixed technical indicators, the next move could swing either way, keeping the market on edge. RSI Holds Neutral As Bitcoin Awaits A Clearer Signal
According to Shaco AI, in a recent updateon X, Bitcoin is currently hovering around $107,264.17, positioning itself just above two key moving averages. It’s nudging the 25-day SMA at $107,229.82 and holding slightly above the 50-day SMA, which sits at $107,040.81. This positioning reflects a mild bullishbias in recent sessions, keeping both bulls and bears on alert. Related Reading Bitcoin Price Risks Market Crash After Closing Below Final Weekly Resistance 1 day ago
Looking at momentum indicators, the Relative Strength Index (RSI) is resting at 53.36—firmly in neutral territory. This suggests that Bitcoin is neither overbought nor oversold at the moment, offering no strong directional clues as it keeps the marketguessing.
Furthermore, the Average Directional Index (ADX) adds to this indecisive mood, coming in at a soft 20.44. This low reading signals a weak trend, meaning there’s not enough force from bulls or bears to drive a clear breakout just yet. In other words, the market isn’t leaning heavily in either direction. BTC holding above key moving average | Source: Shaco AI on X
Meanwhile, the Moving Average Convergence Divergence (MACD) remains in negative territory at -137.33. Although it isn’t signaling any strong downward momentum, traders may want to stay cautious and alert for any sudden shift in the current tone.
Despite the technical indecision, market activity is picking up. Bitcoin’s recent trading volumehas surged to 1903.51, well above the average of 1522.43. This uptick signals a rise in interest and participation, indicating that traders are actively positioning themselves in anticipation of Bitcoin’s next move. Critical Zones At Play As Market Prepares For A Directional Push
Looking at key levels, Shaco AI highlighted that resistance is at $108,789.99, which seems to be a strong level to overcome. The level marks a significant ceiling for Bitcoin, and any attempt to push higher will need solid momentum to break through. On the other hand, support lies at $104,622.02. This support level will be critical in case the price begins to retreat, as a breakdownhere could open the door for further downside. Related Reading Bitcoin Price At $110,000: Why BTC Must Break Out Of This Wedge 3 days ago
Based on current indicators, the analystsuggests it’s wise to keep an eye out for potential movement in either direction. With volume picking up, Bitcoin may soon test either the resistance above or fall back to support, depending on how momentum develops in the coming sessions. BTC trading at $107,760 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com