๐ Technical analysis of Bitcoin (BTC)
At this moment, BTC shows weakness over the Bull Market Support Band. In a healthy uptrend, the price should remain clearly above that zone โ consolidating directly over it is a sign of fragility.
๐ Additionally, gold continues in a full price discovery rally, which generates additional pressure on BTC.
๐ Key scenario for this week:
If BTC loses this support, we could see a drop towards the last minimum, which almost exactly coincides with the 200-period moving average on the daily, around 105,000 USD.
โ๏ธ In summary:
Staying above the Bull Market Support Band is critical for BTC. If it breaks, the market could seek a deeper test in the 200D MA zone before attempting to recover higher levels.