🚨 Bitcoin (BTC) Update 🚨 - Golden Lion Trading 🦁
🔍 Current Price: $63,843 (+2.96%)
📊 Technical Overview:
Weekly MA:
MA(7): $61,021 (bullish crossover with price)
MA(25): $62,928 (above support, holding strong)
RSI(6): 55.52 – Neutral, with slight bullish momentum as it's approaching overbought territory. Watch for further movement above 60.
Key Levels: Resistance at $73,777. Support at $49,000 from previous swing low.
MACD: Bullish signal with the K at 71.83, D at 62.49. Strong momentum seen.
💡 Analysis:
BTC has successfully broken above key moving averages, signaling potential upside continuation. The price is bouncing off $61,000 and maintaining momentum toward higher resistance.
The RSI indicates mid-level strength, but further gains are likely as it approaches the bullish zone.
Keep an eye on market volatility, especially with $75K as a major resistance zone. If BTC can break this level, expect further upside. However, a break below $62,000 could trigger a pullback.
🔥 Signal:
Entry: Around $63,800
Take Profit: $65,500 / $68,000
Stop Loss: Below $61,200
🚀 Fundamental Insight:
Bitcoin's seasonal bullish trend historically points toward further price action in Q4. With institutional interest rising and halving on the horizon, BTC could see a strong push toward new highs by year-end. Expect possible volatility but keep your eyes on the long-term trend.
Stay sharp, trade smart! Remember, Golden Lion Trading always has your back with expert insights and analysis! $BTC
