Crypto Express

06/09 00:14

Bitcoin (BTC) at a Crossroads

If bullish pressure sustains, BTC could attempt to breach its nearest resistance at $108,000. Should it clear this level, the next upside target lies at $110,500. Conversely, immediate support rests at $103,800. A drop below that could pull prices down to the psychological threshold of $100,000.

Technical indicators reflect cautious optimism. The Relative Strength Index (RSI) currently reads 54.87, hovering just above its average at 54.64. Although this signals mild bullish control, the momentum remains subdued. The RSI curve recently bounced from lower levels, indicating recovery from a brief dip into neutral territory. However, it still lacks strong directional conviction.

The Chaikin Money Flow (CMF), presently at 0.07, signals marginal capital inflow into BTC. While still positive, the CMF trend shows a clear decline since mid-May. This suggests waning investor confidence, possibly due to thinning volumes or macro uncertainty. Nonetheless, the value remains above zero, implying that net buying still outweighs selling pressure.

Moving averages offer mixed signals. Price action remains above the short-term moving average, confirming a basic uptrend. However, no decisive moving average crossover has occurred recently, limiting immediate trend clarity. Altogether, Bitcoin’s technical posture is cautiously balanced. 

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