On the time frame, the Bitcoin price is trading at around $104,305, which is a daily increase of about 3.03%. The moving average of the MACD indicator shows DIF at 319.14 and DEA at 199.70, which means that the bullish signals are still present despite the decline. The RSI (6) is around 52, so the market is in a neutral zone and a major correction is unlikely. The KDJ indicator shows that K is at 55, D is at 67, and J is at 30, indicating a slight correction before a new rise. The current OBV is 21,134, reflecting a volume accumulation in favor of buyers after the drop over the last 7 days, during which Bitcoin has declined by about 2.02%, and over the last month, it has risen by about 10.16%. An important support level is at $103,000; if the price holds above this in the coming hours, it supports the upward movement. The first resistance is at $105,000 - $106,000, and if this area is breached, the price will reach $108,000. If the price breaks below $102,000, it could see a correction to the levels of $100,000 - $98,000. The overall technical situation encourages gradual rises as long as the main drivers keep the price above support. In the medium term, if the price stabilizes above $105,000 for two days, we might see a new target at $115,000 within two weeks. Our short-term expectations: a slight correction to $103,000 before attempting a rebound upward. Traders need to monitor the level of $101,500 to protect their assets. God knows best, and I lean towards the bullish scenario.
