Bitcoin trades at $106054 today. $BTC is above the significant support level of $105000. Discover the next targets. Bitcoin did break out and is on a bullish reversal. The bias is bullish for the next few days.
Support and Resistance Levels for $BTC
Current Bitcoin Price: $106054
| Level | Price (USD) | Description |
|---|---|---|
| Support 1 | $105000 | The 100 EMA is the 100-day Exponential Moving Average, representing the average price over the last 100 days. It indicates market trends over a mid or long term. |
| Support 2 | $103000 | Bollinger Bands are volatility bands that expand and contract based on market volatility. The lower Bollinger Band represents the lower deviation from the 20-day simple moving average. |
| Resistance 1 | $111000 | The 50 EMA is the 50-day Exponential Moving Average, representing the average price over the last 50 days. It indicates market trends over a short or mid-term. |
| Resistance 2 | $113000 | The Upper Bollinger Band is the upper deviation from the 20-day simple moving average. |
Frequently Asked Questions
What Bitcoin price targets should I consider?
Support is identified at $105000, with resistance near $111000. An extension target is set at $133911.
Is Bitcoin Bullish?
The current market bias is Bearish. The Stochastic RSI is at 35. Resistance is at $111000. Traders should place stop-loss orders below $103000.
How do I set stop-loss levels for Bitcoin?
Stop-loss levels should be placed below the $103000 support. Swing lows can also be used as reference points for setting stop-loss orders.
What are the Bitcoin moving averages indicating?
The EMA50 is positioned at $111000, and the EMA100 is at $105000. Bitcoin is currently trading at $106054. Comparing these values can help determine the trend direction.
Should I buy or sell BTC?
Buyers may consider entering positions near $105000 or $103000, with stops placed below $103000. Sellers might look to exit positions near $109990 or $111000. Profit-taking targets are at $133911. It is essential to manage risk carefully.
How do Fibonacci levels affect Bitcoin price?
The Fibonacci 61.8% retracement level is situated at $109990, while the Fibonacci 138.2% extension targets $133911.
What does $BTC momentum show?
The Stochastic RSI K value is currently 35. Readings above 80 indicate overbought conditions, while values below 20 suggest oversold conditions. Readings between 20 and 80 represent neutral momentum.
Conclusion
Bitcoin is showing weakness below the $105000 support level. Attention should be paid to the $103000 level for potential breakdown risks. Momentum indicators favor bears, suggesting that another sell-off may follow. It is advisable to remain cautious and protect capital.