The Daily Chart

On the daily timeframe, BTC is currently holding above the $103K region after sweeping the $101K sell-side liquidity. The previous bullish structure is still valid, and the price is likely targeting the mid-range of the ascending channel. The 100-day (orange) and 200-day (blue) moving averages are not far below, sitting at $92K and $95K, respectively, and continue to slope upward. This indicates that the long-term bullish momentum is not yet broken.

The RSI on the daily is recovering slightly from below 50, suggesting neutral momentum after days of cooling off. Until the asset breaks below the $100K–$101K range, the current drop looks like a healthy correction in an uptrend. However, failure to reclaim the $106K–$108K resistance area quickly could increase the probability of revisiting the $95K–$97K order block, and even the two moving averages.