๐ Technical Analysis
๐ Trend
Massive uptrend: BTC has gone parabolic, moving from ~15K to 120K+ over several months.
Long, consistent green candles indicate strong buyer dominance.
๐ Moving Averages (EMAs)
EMA(7): $101,107
EMA(25): $74,754
Price is well above both EMAs, confirming a strong bullish trend, but also signaling overextension โ pullbacks toward EMA(7) or even EMA(25) would be healthy.
๐ช RSI (Relative Strength Index): 79.62
RSI above 70 = overbought. At nearly 80, BTC is deep into overbought territory.
This doesnโt mean a crash is coming, but it does mean the rally could cool off or retrace slightly before continuation.
๐ Volume
Strong green volume bars support the uptrend.
No signs yet of volume divergence (where price increases while volume decreases), which is good.
๐ฅ Key Resistance & Support
Resistance: $123,218 (recent high), then psychological at $125K and $128.6K
Support: $104,900 (recent support zone), then $81,198 (previous consolidation)
๐ป For the Bearsโฆ
This market is leaving bears behind. That meme you posted is spot on ๐ โ a bear waiting for a "pullback" to $80K may be dreaming if bullish momentum continues.
But beware of blow-off tops โ sharp vertical moves are often followed by rapid corrections.
โ Trading Tip
If you're long, great โ but consider:
Partial take-profits near $123Kโ$125K
Watching for RSI cooldowns for better re-entry
Trailing stop-losses to protect gains
If you're out and looking to enter, it might be worth waiting for a dip or consolidation โ price is very extended right now.
