Detailed Technical Perspective
Bitcoin (BTC) is currently trading around $103,500, showing a slight correction after reaching an intraday high of $104,836.
Despite maintaining an upward trend on the daily chart, some technical indicators suggest a possible double top formation, similar to what was observed in 2021.
The RSI is at elevated levels, indicating a potential overbought condition, while the MACD shows signs of bearish convergence.
Additionally, trading volume has decreased, which could signal a loss of momentum in the short term.
Prediction: If BTC manages to surpass and hold above $105,000, it could head towards $110,000.
However, a drop below $102,000 could lead it to test supports around $98,000.
BTC
105,842.2
+1.13%
