🔔Bitcoin Price Prediction: Can BTC Hold Weekly Support Near $105K?

✅Bitcoin Price Prediction: Weekly and Daily Analysis

Bitcoin is testing a crucial weekly moving average near $105,000, while daily momentum shows tentative buying pressure returning. Traders are observing weekly closes to confirm whether the price maintains its bullish trend or moves lower.

✅Bitcoin Price Prediction: Weekly Trend and Key Moving Average

🔴The weekly chart illustrates that Bitcoin has been trading near the 20-week moving average, currently at $105,000, which is an important level for reviewing the macro trend structure. The 20-week moving average is also an area that traders can utilize to evaluate possible medium-term price stability in their analysis.

🔴BTC has returned over the 50-week simple moving average as the weekly close approaches. A weekly close above $105,000 could see a price where higher levels near $115,000-$120,000 can be explored, while multiple weekly closes below $105,000 may suggest re-balancing towards the $98,000-$100,000 support levels. Weekly behavior for BTC will be very important for possible positioning in the coming weeks.

🔴After the last several weeks, we have begun to see lower highs form, meaning that BTC is showing a possible short-term weakening momentum of price action. Watching for price interaction with the 20-week moving average may provide a better view in understanding if the bullish structure remains intact or if consolidation may take place.

🔴Volume near the 20-week moving average will additionally allow us to understand trader conviction. When traders are able to remain active in this area above the 20-week, the higher volume of activity is supportive of a continuation of the broad uptrend.

✅Bitcoin Price Prediction: Daily Indicators Show Stabilization

At the time of writing, BTC is trading at approximately $104,655 following an apparent recovery from previously selling pressure, as indicated in the daily chart. The RSI is at about 42.91.

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