$BTC

The current price of Bitcoin (BTC) is around $102,000 - $104,000, showing a slight decline in the last 24 hours but a significant increase over the past week.

Technical Analysis:

1. Momentum: Technical indicators show mixed signals. Some short-term indicators are giving sell signals, while medium and long-term indicators still show a positive trend. The RSI (Relative Strength Index) is above 70, which could indicate overbought conditions and a potential correction.

2. Key Levels:

a. Resistance: The $105,000 area is an important resistance level. A breakout above this level could open opportunities towards the previous all-time high around $109,000.

b. Support: The nearest support level is around $100,000 - $102,000. If this level is breached, further decline to the $95,000 area may occur.

c. Chart Patterns: Some analysts see a double top pattern around the $105,000 area, which is a bearish signal. On the other hand, a breakout above this level could invalidate this pattern.

Fundamental Analysis:

1. Market Sentiment:

Overall market sentiment remains quite positive, driven by a risk-on narrative and some developments in traditional financial markets.

2. On-Chain Activity:

On-chain data shows quite high activity, with an increase in the number of active addresses and transaction volume. This indicates sustained interest in Bitcoin.

3. Institutional Adoption: Interest from institutions continues to be an important factor supporting Bitcoin's price in the long term.

Conclusion:

Currently, Bitcoin is at a crossroads. Although it shows strong weekly gains, there are indications of a potential correction in the short term based on technical analysis. The $105,000 level is key for the next price movement. Market sentiment and fundamental factors are generally still supportive, but caution regarding potential volatility is still necessary.