Bitcoin's price has been volatile, with a 9% gain in the past month but a 3% drop in the last week. Its market cap remains around $2 trillion. BTC appears to be consolidating, with its EMA lines close together and its DMI chart indicating weak trend strength. The number of BTC whales has dropped to the lowest level in a year, suggesting large holders are selling off their coins. BTC's next move is crucial, with support at $101,300 and resistance at $105,700. The ADX on the DMI chart shows weak trend strength, and +DI and -DI suggest bearish pressure has eased. If +DI crosses above -DI with a rising ADX, an uptrend could form. The decline in whale addresses indicates potential selling and could increase selling pressure on BTC. EMA lines indicate a consolidation phase, with support at $101,300, but a drop below this could lead to further declines. On the upside, resistance is at $105,700 with potential moves to $107,000, $108,500, and $110,000.



Other News from Today