📊 Weekly Technical Levels
Resistance Levels:
$124,652.59
$127,266.08
$129,248.44
Support Levels:
$120,056.73
$118,074.38
$115,460.88
These levels are based on Barchart's technical analysis and are derived from the most recent data available.
📈 Technical Indicators
Relative Strength Index (RSI): The RSI is currently at 61.95%, indicating that Bitcoin is neither overbought nor oversold.
Stochastic Oscillator: Both the %K and %D lines are in the 80% range, suggesting that Bitcoin is in an overbought condition, which could precede a pullback.
Average True Range (ATR): The 9-day ATR is 3,316.77, indicating a daily price movement of approximately 2.73%.
Directional Movement Index (DMI): The +DI is at 35.72, and the -DI is at 10.17, suggesting a strong bullish trend.
🔮 Market Outlook
Analysts project that Bitcoin may reach up to $126,865 within the next week, with a potential target of $129,753 over the next four weeks.
⚠️ Risk Considerations
While the long-term outlook appears bullish, it's essential to monitor key support levels. A drop below $120,000 could signal a short-term correction. Additionally, the stochastic oscillator indicates an overbought condition, which may lead to a pullback.
Resistance Levels:
$124,652.59
$127,266.08
$129,248.44
Support Levels:
$120,056.73
$118,074.38
$115,460.88
These levels are based on Barchart's technical analysis and are derived from the most recent data available.
📈 Technical Indicators
Relative Strength Index (RSI): The RSI is currently at 61.95%, indicating that Bitcoin is neither overbought nor oversold.
Stochastic Oscillator: Both the %K and %D lines are in the 80% range, suggesting that Bitcoin is in an overbought condition, which could precede a pullback.
Average True Range (ATR): The 9-day ATR is 3,316.77, indicating a daily price movement of approximately 2.73%.
Directional Movement Index (DMI): The +DI is at 35.72, and the -DI is at 10.17, suggesting a strong bullish trend.
🔮 Market Outlook
Analysts project that Bitcoin may reach up to $126,865 within the next week, with a potential target of $129,753 over the next four weeks.
⚠️ Risk Considerations
While the long-term outlook appears bullish, it's essential to monitor key support levels. A drop below $120,000 could signal a short-term correction. Additionally, the stochastic oscillator indicates an overbought condition, which may lead to a pullback.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.