Bitcoin‘s Magical Mystery Tour: Will It Ever Decide?

Well, look at that. Bulls have apparently dragged themselves out of their caves and are fancying a comeback, much to everyone’s surprise, especially CoinStats who seems quite enthused about it. 🐂💃

BTC/USD

Since yesterday, Bitcoin’s price has wobbled upward by a meager 2.11%. It’s practically the equivalent of a digital hamster running on a tiny wheel— tireless but ultimately going nowhere fast.

On the hourly chart—because who doesn’t love a good hour-long rollercoaster—BTC might have hit a local resistance of $110,266. As the ATR (abbreviation for “Are they Really passing this level?”) has mostly been crossed, the chances of a sudden, dramatic move are about as likely as finding a unicorn doing the cha-cha. 🦄💃

Zooming out to the grander, more contemplative time frame, Bitcoin is currently lounging in the middle of what might be called a channel—like a cautious cat deciding whether to jump or just stare at the fish tank. Support is at $106,827, and resistance at $112,000. The big question? Will it make a mistake or just sit there looking important? 🤔

Since the rate isn’t alarmingly close to either support or resistance, don’t hold your breath for a fireworks display—unless you enjoy the quiet, contemplative kind that involves watching paint dry.

Looking at the weekly chart—because why not add some drama—BTC is breaking the nearest level of $109,356. Traders are advised to focus on whether the bar’s closing is far from that number, and whether it sports a long wick or not. If it doesn’t, then, just like your favorite unreliable friend, the upward trend might keep going to new all-time highs, or maybe just to the corner shop for some milk.

At press time, Bitcoin is hanging out at a cool $109,670—probably contemplating the meaning of life, or just waiting for the next tweetstorm.

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2025-05-26 18:52