Bitcoin (BTC/USDT) analysis on the daily frame!
Current price: $102,930 (+0.16% in 24 hours).
The market is active with a trading volume of $2.81 billion!
What's happening?
The price is close to a strong resistance level at $104,999. If it breaks through, we might see an upward surge to $105,848!
If the market corrects, the nearest support is at $102,305, and below that it could drop to $99,912.
What do the indicators say?
RSI (83.26): Bitcoin is in the overbought zone! This means the price is very high, so be cautious of a potential correction.
MACD (607.63): The upward momentum is still present, but be careful!
Bollinger Bands: The price is above the upper line ($103,031), indicating strong movement, but a pullback is possible if the market calms down.
What's the next step?
If you want to buy: wait for a breakout at $104,999 with confirmation, or buy at the support of $102,305 if the price returns.
If you want to sell: take your profits near $105,848 if the price reaches there.
Advice: The market is volatile, always set a Stop Loss! And this is not investment advice; the market is at your own risk.