📉 Bitcoin ($BTC ) Pressured Below $103K, RSI Drops to Oversold Zone
Bitcoin ($BTC ) is showing high volatility again today. After reaching a 24-hour high of $105,909, BTC has sharply corrected and is trading at $102,983, down -2.12% in the last 24 hours.
Selling pressure peaked in the last 1 hour session, with a quite strong bearish candle breaking through the short-term support area. Technical indicators are also giving not-so-encouraging signals:
* RSI(6) dropped to 21.58, indicating oversold conditions — but it’s not a guarantee of an instant bounce.
* EMA(13), EMA(21), and EMA(99) are all above the current price, signaling short-term bearish pressure.
* Trading volume remains high at 1.43B USDT, reflecting a significant distribution action.
📊 BTC Performance by Time Frame:
* Today: -0.27%
* 7 Days: -3.50%
* 30 Days: +9.29%
* 90 Days: +18.06%
* 1 Year: +44.41%
This decline can be associated with a combination of factors: from the market's reaction to US macro data, potential position adjustments ahead of the FOMC, to the rotation of funds into small-cap altcoins that are currently surging.
For swing traders, the psychological area of $102K could serve as a short-term support level worth monitoring. However, for long-term investors, such corrections could be an accumulation moment — certainly while keeping in mind individual strategies and risk tolerance.
📌 DISCLAIMER: Not Promotion & Not Financial Advice
