Technical Analysis – BTC/USDT (Daily Frame)
Current price: 103735.85
Daily change: -0.53%
Technical indicators:
The recent candles show clear volatility between 103K and 105K with a rejection candle at 105,600, indicating temporary seller dominance
RSI at 34.88: Close to oversold areas → indicating a possible rebound, but no clear entry signal has appeared yet
MACD is still negative with downward momentum, and the lines are far from a positive crossover
Bollinger Bands: Price is moving towards the lower limit, in a narrow range → indicates an upcoming violent movement (Breakout or Breakdown)
Fundamental Analysis:
The pressure from the US Federal Reserve on the market creates an environment of concern among traders, pushing the market to fluctuate
Bitcoin faces strong psychological resistance at 105,000 – 106,000
Interest rates and inflation affect investors' appetite for risk, and Bitcoin is currently traded as a hedge asset but not as strongly as before
The real reason for the volatility:
A fragile balance between buyers and sellers at this stage, with no clear breakout of support or resistance areas
Accumulation or distribution?: This area represents a collective market decision, either to return to upward movement or dive into a downward wave
Possible scenarios:
Trend Conditions Targets
Rise Daily close above 105,800 108,000 then 110,000
Drop Break 103,000 with strong close 100,000 then 97,000
Futures trading strategy:
> Entering a potential Short position with a strict stop loss:
Entry area: between 103,900 – 104,500
First target: 102,000
Second target: 100,000
Stop loss: 105,600 (4-hour candle close)
Trading with utmost caution and considering capital management
Question for the community:
Do you expect Bitcoin to retest 110,000 this week?
Or has the descent journey actually begun? 🤔
Share your opinion in the comments👇
