$BTC BTC/USDT PERSPECTIVES: Short term
The current price of Bitcoin is around $104,400 - $104,700 USDT. We have observed a correction from the recent historical highs near $112,000 USDT.
Short Term (next 1-2 weeks):
🧨Estimated general trend: Sideways to slightly bearish (Sideways probability: 50%, Bearish probability: 40%, Bullish probability: 10%).
Recent main arguments:
🚩After failing to maintain the highs, Bitcoin has entered a phase of correction and consolidation.
🚩Some short-term technical analysis suggests a continuation of selling pressure, with the breakdown of key support levels.
🚩Significant liquidations of long positions have been reported, which could exert additional downward pressure.
🚩The RSI (Relative Strength Index) in some time frames has exited the overbought zone and shows a downward slope, suggesting a pause in bullish momentum.
💹Volatility estimate: Medium to high (High probability: 55%, Medium probability: 40%, Low probability: 5%). Volatility could increase if important support levels are broken.
🛑Possible relevant stop loss levels for this time frame: Considering the recent price action, levels like $103,000 USDT or $101,500 USDT could be relevant for the short term, depending on your risk tolerance.