Shaco AI, in a fresh update, highlighted that Bitcoin is showing off its moves, dancing upwards past both the 25-hour ($119,088.50) and 50-hour ($118,338.56) Simple Moving Averages. With such momentum, it’s clear BTC has decided it’s not a bear season yet. Momentum And Indicators Shaco AI’s analysis on Bitcoin dives deep into the technical indicators, and there’s no shortage of bullish energy in the air. First off, the Relative Strength Index (RSI) is currently riding high at 86.02. That’s well into overbought territory, and as Shaco colorfully put it, “it might need to hydrate soon.” Such elevated RSI levels often signal a potential cooldown on the horizon, but for now, momentum is favoring the bulls. Related Reading: Bitcoin 30-Day Average Funding Rate Drops – Bullish Setup Takes Shape Adding fuel to the trend is the Average Directional Index (ADX), which sits at a robust 44 points. According to Shaco AI, this reading confirms that the current uptrend is strong and well-supported. The MACD (Moving Average Convergence Divergence) indicator is also reinforcing this bullish narrative, with a reading of 967.98. Shaco described it as “screaming positive vibes,” a signal that buying pressure continues to dominate. A rising MACD in conjunction with a strong ADX often paints a picture of confident market participants driving the trend with conviction. One of the most telling signs is volume. Shaco pointed out that Bitcoin’s trading volume has surged to 2704.5, a significant leap above its average of 856.81. He described this as “some serious weight lifting in buying interest,” underscoring that this isn’t a weak or speculative move — traders are putting real capital behind the rally. Support And Resistance: Bitcoin Make-Or-Break Levels The analyst went further to highlight key levels traders should closely monitor. He noted, “Key Levels Alert: Keep an eye on the resistance at $122,666.0 and support sitting firm at $116,900.05. It feels like Bitcoin is playing ‘The Floor is Lava’ with support levels!” This colorful analogy points to the importance of holding key support to maintain bullish momentum. Related Reading: Bitcoin Consolidation Continues: 2 Key Support Levels To Watch According to Shaco AI, if Bitcoin can sustain a move above the current resistance zone, traders might want to watch for a potential breakout. However, with the RSI already deep in overbought territory, there’s also the possibility that BTC may “peak too soon,” leading to a pullback or brief consolidation phase. He wrapped up the post with a reminder that while momentum is clearly favoring the bulls, it’s essential to stay cautious. “Always make well-informed decisions and manage your risk carefully,” the analyst advised, reinforcing the importance of strategic planning in a volatile market. Featured image from Pixabay, chart from Tradingview.com
Bitcoin is holding steady above its 50-day Simple Moving Average (SMA), showing signs of underlying strength despite a lack of clear directional momentum. With rising trading volume and mixed technical indicators, the next move could swing either way, keeping the market on edge. RSI Holds Neutral As Bitcoin Awaits A Clearer Signal According to Shaco AI, in a recent update on X, Bitcoin is currently hovering around $107,264.17, positioning itself just above two key moving averages. It’s nudging the 25-day SMA at $107,229.82 and holding slightly above the 50-day SMA, which sits at $107,040.81. This positioning reflects a mild bullish bias in recent sessions, keeping both bulls and bears on alert. Related Reading: Bitcoin Price Risks Market Crash After Closing Below Final Weekly Resistance Looking at momentum indicators, the Relative Strength Index (RSI) is resting at 53.36—firmly in neutral territory. This suggests that Bitcoin is neither overbought nor oversold at the moment, offering no strong directional clues as it keeps the market guessing. Furthermore, the Average Directional Index (ADX) adds to this indecisive mood, coming in at a soft 20.44. This low reading signals a weak trend, meaning there’s not enough force from bulls or bears to drive a clear breakout just yet. In other words, the market isn’t leaning heavily in either direction. Meanwhile, the Moving Average Convergence Divergence (MACD) remains in negative territory at -137.33. Although it isn’t signaling any strong downward momentum, traders may want to stay cautious and alert for any sudden shift in the current tone. Despite the technical indecision, market activity is picking up. Bitcoin’s recent trading volume has surged to 1903.51, well above the average of 1522.43. This uptick signals a rise in interest and participation, indicating that traders are actively positioning themselves in anticipation of Bitcoin’s next move. Critical Zones At Play As Market Prepares For A Directional Push Looking at key levels, Shaco AI highlighted that resistance is at $108,789.99, which seems to be a strong level to overcome. The level marks a significant ceiling for Bitcoin, and any attempt to push higher will need solid momentum to break through. On the other hand, support lies at $104,622.02. This support level will be critical in case the price begins to retreat, as a breakdown here could open the door for further downside. Related Reading: Bitcoin Price At $110,000: Why BTC Must Break Out Of This Wedge Based on current indicators, the analyst suggests it’s wise to keep an eye out for potential movement in either direction. With volume picking up, Bitcoin may soon test either the resistance above or fall back to support, depending on how momentum develops in the coming sessions. Featured image from Pixabay, chart from Tradingview.com
Bitcoin is making waves once again, flashing strength on the weekly chart as it closes well above key moving averages. With momentum indicators still favoring the bulls and no signs of exhaustion in sight, the current setup hints that the rally might be far from over. Could this be the beginning of an even bigger breakout? Bitcoin Stays Elevated: Bulls Show No Signs of Fatigue In a recent update shared on X, Shaco AI highlighted Bitcoin’s continued bullish momentum, pointing to strong weekly performance on the BTC/USDT chart. The analyst noted that BTC has “ballooned past recent expectations,” closing the week at an impressive $105,700. Related Reading: Bitcoin At A Crossroads: $97,000 Cost Basis Holds Key To Next Breakout This places the asset well above its 25-week Simple Moving Average (SMA) of $95,009.55 and the 50-week SMA at $83,318.12, an encouraging technical signal that suggests Bitcoin’s uptrend remains firmly intact. As Shaco AI put it, “The party isn’t over yet,” hinting that bullish sentiment could carry BTC even higher. Technical indicators further support this upbeat outlook. The Relative Strength Index (RSI) currently reads 63.51, indicating that buying momentum remains robust without entering overbought territory. This suggests that traders are still comfortable accumulating at current levels, and the market hasn’t yet reached a point of exhaustion. Furthermore, the Moving Average Convergence Divergence (MACD) remains firmly in positive territory at 5835.33. The MACD’s positioning reflects steady buyer interest and a favorable trend structure, both of which are crucial for sustaining an upward move. Volume Slackens While Price Nears Critical Resistance Zone The analyst went on to point out that despite the bullish setup currently seen on Bitcoin’s chart, the enthusiasm might be tempered by softening trading volume. Specifically, trading volume has only reached 95,302, significantly lower than the average volume of 179,421. Related Reading: Bitcoin Price Slips Again, Triggering Fresh Fears of a Deeper Correction This discrepancy signals a noticeable dip in market participation, raising the question of whether the ongoing price rally has enough fuel to sustain its momentum in the short term. As the analyst emphasized, this drop in volume is worth watching closely since it may influence the momentum of next week’s price action. Looking at the broader picture, Bitcoin is approaching a major resistance level at $111,980. This key barrier represents a potential turning point; either it gets broken and paves the way for further upside, or it holds and prompts a short-term correction. Should a pullback occur, the analyst noted that BTC appears to have a comfortable support zone at $49,000, which could act as a solid cushion. In any case, the analyst suggests keeping a close eye on how these technical levels play out, as they could dictate Bitcoin’s next big move. Featured image from Getty Images, chart from Tradingview.com