Bitcoin Approaches Golden Cross Amid Rising Geopolitical Tensions

Bitcoin is attempting to regain bullish momentum, currently trading above $106,000 after briefly dropping below $104,500. Technical analysis indicates a potential for an extended rally, as it approaches a golden cross signal.

Ichimoku Cloud Analysis

Daily price close above the Tenkan line signals short-term trend strength.
A golden cross may be confirmed soon, indicating a possible long-term bullish shift.
Current consolidation around $105,000 could lead to a run toward resistance at $111,600.
Geopolitical tensions, particularly in the Middle East, may impact this outlook.

Support Levels and Whale Activity

Significant support identified at $104,124, based on UTXO realized prices.
If Bitcoin drops below this level, next support may be around $97,405.
Lack of strong buying interest between $104,000 and $97,000 raises risk of a swift correction.
Whale addresses holding over 1,000 BTC have decreased from 2,114 to 2,094.

As of now, Bitcoin is trading at approximately $105,505.