Bitcoin ($BTC ) has recently experienced a cooling period. Is this a temporary dip or a sign of a more significant decline? The $BTC /USDT pair reached a 24-hour peak of $104,466 before retracting to $103,175.42.
Although it remains up by 0.96% for the day, selling pressure is increasing near the resistance level. Trading volume is robust at 19,731 BTC, indicating that traders are actively monitoring this area. Key levels to watch include: Support at $101,900 to $102,600 and Resistance a104,000 to $104,500. As long as Bitcoin maintains its position above $102,000, the overall market structure remains stable. However, a drop below this range could trigger a more pronounced decline.