📈 Overall picture:
Current price: $106,629.
In recent days, BTC has pulled back from $111,900 to $103,900, then recovered.
Currently, there is a visible local recovery, but it is not yet confirmed by the volumes.
🔍 Technical indicators:
1. MACD:
MACD is going negative (histogram below zero), and the lines are diverging downwards. 🔻 This is a bearish signal, but:
If the price continues to rise, a quick reversal is possible.
2. RSI (6):
Value ~53.9 — neutral zone, no overbought or oversold conditions. ✅ There is potential for growth, RSI is not a hindrance.
3. Stochastic (K/D):
Values ~36 — a bit low, but there are no upward crossings yet. ⚠️ There is potential for a long, but confirmations are few.
📌 Key levels:
Resistance: $111,900 — it may reach there if the upward trend continues.
Support: $103,900 (local bottom), below — $97,300 and $89,000.
✅ Conclusion / Recommendation:
Position: NEUTRAL-BULLISH.
Now is not the best time to short, as BTC has already pulled back a bit and started to recover. But opening a long position right now is risky without confirmation from volumes and MACD.
📌 Strategy:
🔸 If you want to go long:
Wait for a confident breakout of $107,000–$108,000 with increasing volumes.
Stop — below $103,800.
Target — $111,900.
🔸 If you want to short:
Only if the price cannot break $107,000 and shows a reversal on volumes.
Stop — above $108,000.
Target — $103,000.