- Gains comply with studies of US-China tariff rollback.
- Key assist at $103,818 aligns with the 50-day EMA.
- MACD alerts bullish momentum as consolidation continues.
Bitcoin (BTC/USD) maintained its footing above the $104,000 stage on Monday, buoyed by rising investor confidence amid indicators of easing commerce tensions between the US and China.
The world’s most-traded cryptocurrency touched an intraday excessive of $105,706 earlier than settling close to $104,420.33 at the time of writing.
This transfer follows weeks of sideways buying and selling, and alerts a possible shift in market sentiment.
Source: CoinMarketCap
Optimism round the rollback of US tariffs on Chinese items has revived danger urge for food throughout international markets.
For Bitcoin, the easing geopolitical backdrop has acted as a key driver behind latest features.
BTC jumps on macro optimism
The newest surge comes as the US has scaled again tariffs imposed on China, elevating hopes that international commerce flows might enhance and recession dangers could ease.
This broader financial tailwind has prolonged into the crypto market, pushing Bitcoin above the psychological $105,000 barrier throughout intraday buying and selling.
The transfer has been supported by bullish technical indicators. The 50-day Exponential Moving Average (EMA), presently close to $103,818, has offered a powerful base throughout latest consolidation.
Bitcoin’s skill to bounce off this stage has strengthened confidence amongst merchants.
Market contributors are now eyeing the next resistance ranges at $106,750 and $107,300.
These value factors align with earlier provide zones and will decide whether or not Bitcoin can maintain its upward trajectory in the close to time period.
Support holds at $103,818
The $103,818 stage has emerged as a key line of defence for bulls. It coincides with the 50-day EMA and has served as a essential ground throughout the latest interval of range-bound motion.
If Bitcoin can proceed to carry above this assist, it might present the base for a renewed push towards larger ranges.
However, if downward strain intensifies and the value falls under this threshold, the next assist lies at $103,080.
A breach of this stage might set off a broader pullback and push Bitcoin again into the decrease finish of its former buying and selling channel.
The Relative Strength Index (RSI) is approaching overbought territory, which suggests {that a} near-term correction remains to be attainable. Traders are watching this carefully, notably as Bitcoin navigates resistance zones.
Technical alerts counsel warning
While latest features are encouraging for Bitcoin bulls, indicators counsel that warning is warranted.
The Moving Average Convergence Divergence (MACD) is trending optimistic, with the MACD line crossing above the sign line and the histogram increasing.
This reinforces the bullish outlook, but in addition means that some short-term consolidation could comply with.
The RSI, presently nearing ranges above 70, implies that the market could also be getting into overheated territory.
Historically, such readings have typically preceded temporary corrections earlier than recent upside makes an attempt.
Should profit-taking emerge, assist ranges at $105,000 and $103,818 shall be examined as soon as once more.
Traders eye $107,000 barrier
With Bitcoin presently hovering round $104,420.33, momentum stays delicate.
A confirmed breakout above $105,706 might reignite shopping for curiosity, opening the path to the next targets at $106,750 and the psychologically important $107,000 stage.
Market sentiment will doubtless stay tied to macroeconomic developments, notably progress on US-China commerce discussions.
Any setbacks on that entrance might reverse the latest features, whereas continued optimism could gasoline one other leg larger.
For now, Bitcoin’s resilience above $104,000 marks a key technical milestone, and all eyes are on whether or not the world’s main cryptocurrency can convert this right into a sustained rally.
