š On the BTC/USDT chart from WhiteBIT, we can observe an interesting technical setup:
$BTC price is consolidating after a strong bullish rally that pushed it to a recent high of $107,238.18. It is now hovering around $103,595.
š¹ Bollinger Bands are starting to tighten after a wide expansion ā this often signals reduced volatility or the buildup before the next big move.
š¹ MACD remains in bullish territory, but the signal and MACD lines are converging, which could indicate weakening momentum.
š¹ RSI is at 68.95 ā near the overbought threshold (70), suggesting a potential short-term correction might be on the horizon.
š§ Overall, the market looks slightly overheated following the recent rally. Watch closely for a breakout or breakdown from this consolidation zone.
