🗓 BTC Analysis - Daily Frame
Bitcoin has broken the daily uptrend and is currently trading below an important supply area.
☄️ Negative Scenario:
If the daily close remains below the 109,000 area, it is likely that the correction will continue towards the demand area between 100,000 - 96,000, which represents a potential strong support.
🔼 Positive Scenario:
A return of the price to close daily above 109,000 means the break has failed and bullish momentum has been regained, and we may see a target of the previous peak at 110,700 and possibly break it later.
📉 The daily RSI indicator shows a clear weakness in momentum, supporting the likelihood of a drop, but we are monitoring the current demand area for a potential bounce.
🎯 Summary:
The 109,000 area is the dividing line between the continuation of the rise or the continuation of the correction. The bearish scenario is the closest until we see a strong close above it.
