After a failed attempt to close daily above $106,500, the price faced clear selling pressure, leading to a break of the $103,000 level, but without confirmation of a daily close so far.
As we mentioned earlier, breaking this level could push the price towards the support area between $100,000 - $98,000, and indeed we saw a quick rebound from the gray area that represents strong demand.
🔄 The correction is still under control, and so far it does not appear to be a deep correction or a reversal in direction.
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✳️ Important technical levels:
🔺 $105,900: A daily close above this level supports the continuation of the rise and targets areas:
$110,765
$112,064
Perhaps $122,727 later.
🔻 $98,440: A daily close below this level (below the gray box) clearly brings back negativity, and could lead us to areas below $97,000.
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💡 Notes:
So far, the decline seems to be a minor correction within an upward trend.
Political factors such as Elon Musk's tweets or Trump's statements are merely catalysts for market movement, but the technical trend is the decisive factor.
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📌 We are watching the daily close to confirm the direction, caution is required but the upward scenario still stands.
Unless clear lows are broken with a daily close.
