Technical Analysis of $BTC – Has the correction actually begun?
Current Price: $102,362
Loss over 24 hours: -0.98%
Quick Look from the Chart (1-Day Frame):
The last candle suggests clear selling pressure after failing to break the resistance at $107,000.
RSI Indicator at 47 – indicates a loss of upward momentum, but we have not entered the oversold territory.
MACD Indicator has started to cross negatively, and we may see further weakness if we do not maintain support at $100,000.
Bollinger Bands show that the price has exited the upper area and is returning to test the midpoint.
Important Levels to Monitor:
Immediate Support: $100,000
Stronger Support: $95,000
Nearby Resistance: $105,000
Proposed Strategy:
There is currently no buying opportunity except after confirming a rebound from support or the appearance of reversal candles.
Short traders can monitor price behavior at $100,000 to take advantage of the rebound.
Recommendation:
Waiting is the most suitable option now. A clear break below 100K may lead us into a broader downward wave, while a strong rebound could restore upward momentum.