$BTC  is trading around $102,000 - $104,000 USD. Following a strong bullish surge that propelled it above the $100,000 mark, the price action is currently showing signs of stabilization and potential consolidation.

Technical analysis on various timeframes presents a mixed but generally optimistic outlook.

Short-term indicators like the RSI are hovering in neutral to slightly overbought territory, suggesting a possibility of a minor pullback or sideways movement in the immediate future.

However, the price remains well above key moving averages (50-day and 200-day EMAs), which continue to slope upwards on the daily chart, indicating underlying bullish strength. Key support levels to watch are in the $100,000 - $101,500 range, which aligns with previous resistance now acting as potential support.

Resistance levels are around the recent highs near $105,000 - $106,000. On-chain data still suggests accumulation trends, with decreasing exchange reserves.

Overall market sentiment remains positive, buoyed by recent price action and sustained institutional interest, but traders should be prepared for potential short-term volatility typical of Bitcoin's price dynamics.

A decisive break above the immediate resistance could signal the next leg up, while a drop below the key support levels might indicate a deeper correction.

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