My (Crypto Lover Artist's) latest analysis. Full details posted on Steemit.
The market is currently sitting on a knife-edge. A break below current levels could see a swift move to $100,000. Conversely, if this support holds, a bounce is possible. Given the recent failure of $BTC to hold above $105,000-$106,000 and the bearish signals on some indicators, a cautious short-term bearish stance might be considered, or waiting for a clearer break of support/resistance.
However, if forced to make a call for the next 1-3 days with the current information:
Suggestion: Short #BTC
Reasoning: The price has broken below recent support levels (around $105,000-$106,000), and short-term momentum indicators (like RSI coming off overbought and negative divergences mentioned) suggest potential for further downside before finding stronger support. The $103,400 level is critical; a sustained break below it strengthens the bearish case in the very short term.
Entry Price: Around $103,200 - $103,500
Target Price: $100,500 (targeting the significant psychological and technical support level).
Stop Loss: $105,600 (This is above the recent breakdown area and above the 20-day EMA, which would invalidate the immediate bearish idea if reclaimed decisively).
Confidence Level: Medium-Low (55%).
